Pfizer Announces Price Rises in 41 Drugs

10% of the companies drugs will see a price increase starting in January.

Posted: Nov 18, 2018 11:32 AM

Pfizer says it will increase the prices of 41 drugs in January. This comes after Pfizer agreed to hold off raising prices following heavy pressure from President Trump.

The pharmaceutical giant says one drug will go up by nine percent, three others will rise three percent, and the others will see a five percent hike.

The affected medicine represents 10% of Pfizer's drug portfolio. The company says the price hikes will be offset by higher rebates and discounts offered by pharmacies and insurance companies.

Trump has long called for prescription drug prices to be lowered, and he criticized Pfizer back in July for considering a price hike. Pfizer previously said its agreement to hold off an a price hike was temporary. As of Sunday morning the white house has yet to comment on Pfizer's announcement.

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