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Big Pharma returning to U.S. price hikes in January after pause

February 19, 2020 / Robin Respaut
SHARESHARESHARE

Novartis AG (NOVN.S) and Bayer AG (BAYGn.DE) are among nearly 30 drugmakers that have taken steps to raise the U.S. prices of their medicines in January, ending a self-declared halt to increases made by a pharma industry under pressure from the Trump administration, according to documents seen by Reuters. Other drugmakers set to raise prices at the start of 2019 include Allergan Plc (AGN.N), GlaxoSmithKline Plc (GSK.L), Amgen Inc (AMGN.O), AstraZeneca Plc (AZN.L) and Biogen Inc (BIIB.O), the documents show.  The hikes will pose a new challenge to President Donald Trump’s pledge to lower the costs of prescription medications in the world’s most expensive pharmaceutical market.