The costs of over 350 different drugs are set to rise in the United States this year as multiple pharmaceutical companies, including Pfizer, prepare for President Joe Biden’s Inflation Reduction Act (IRA) to take effect and inflation continues to soar.
Pfizer, AstraZeneca, GlaxoSmithKline, Bristol Myers Squibb, and Sanofi are among several drugmakers set to raise prices on more than 350 products from January, according to an analysis conducted by health care research firm 3 Axis Advisors.
Along with the IRA, the price hikes are also in response to the soaring cost of living and continued supply chain constraints that have led to higher manufacturing costs….