Major Pharma Companies Are Reportedly Hiking Drug Prices In 2019

Allergan and Pfizer have confirmed price hikes, and an expert told the Wall Street Journal more drugmakers may follow suit.
Posted at 2:38 PM, Jan 02, 2019

The new year might mean more expensive prescription drugs. 

An analysis by Rx Savings Solutions found more than three dozen drugmakers are hiking the costs of hundreds of drugs in the U.S., including blood pressure, Alzheimer's and pain medications. 

Citing that study, the Wall Street Journal says the average price increase is more than 6 percent. 

Well-known drug manufacturers like Allergan and Pfizer have confirmed they're raising some costs for 2019, and it's not unusual for pharmaceutical companies to do so at the beginning of the year. 

But the price hikes come after the Trump administration started putting pressure on the industry and unveiled plans to cut prescription drug prices for consumers. 

One expert told WSJ that prices keep rising because there's little oversight on costs in the drug market.

And another said he expects more drug companies to announce hikes in the coming months.