WASHINGTON, DC — In response to the news that drugmakers raised the prices of more than 250 drugs on Jan. 1, Ben Wakana, Executive Director of Patients For Affordable Drugs, issued the following statement:
“Big Pharma can’t break its addiction to price increases. Widespread price hikes to start the new year show why we can’t rely on drug corporations to exercise self-restraint; we need to enact laws to stop them. There are bills in Congress to stop price gouging. It’s time to pass them and bring relief to the American people.”
According to an analysis by 3 Axis Advisors, drugmakers hiked prices on more than 250 drugs in the United States on January 1, 2020.
CNBC: “The price increases bring the total New Year’s Day drug price hikes to more than 250.”
The 2020 hikes follow thousands of 2019 drug price hikes at an average of 10.5 percent — five times the rate of inflation.