Despite Trump’s Promises, Drug Companies Announce New Price Increases
July 3, 2018
A little over a month ago, Trump promised that pharmaceutical companies would announce “massive” cuts in drug prices in two weeks as a result of his drug plan. Drug prices haven’t dropped as Trump promised, and instead, many drug companies just announced new price increases.
FIVE WEEKS AGO: Trump promised that pharmaceutical companies would announce “voluntary massive” cuts in drug prices in two weeks.
Bloomberg: “Major pharmaceutical companies will announce ‘voluntary, massive’ cuts in drug prices in two weeks, President Donald Trump said Wednesday, without providing details.”
NOW: Many pharmaceutical companies announced new drug price increases, despite Trump’s promises that prices would come down.
Financial Times: “Pfizer has raised the prices of 100 products just weeks after US president Donald Trump claimed the pharmaceuticals industry was about to implement 'massive' voluntary reductions.”
CNBC’s Meg Tirrell: “In today's drug price increases: $SGEN raises Adcetris 3.9% to $7,375/vial, per SunTrust, which points out 2x/yr 3.9% increases since 2012 $REGN & $SNY raise Dupixent U.S. price 3% to $2,932 per 2-syringe pkg, also per SunTrust, citing Wolters Kluwer PriceRx – drug's 1st increase”
Axios: “Several other companies followed suit with large and small increases, others in the industry tell Axios.”