Pfizer Hiked Prices for Over 100 Drugs on January 1

Pfizer Inc, which plans a $160-billion merger with Ireland-based Allergan Plc to slash its U.S. tax bill, on Jan. 1 raised U.S. prices for more than 100 of its drugs, some by as much as 20 percent, according to statistics compiled by global information services company Wolters Kluwer, NBC News reported.

Pfizer confirmed a 9.4 percent increase for heavily advertised pain drug Lyrica, which generated $2.3 billion in 2014 U.S. sales; a 12.9 percent increase for erectile dysfunction drug Viagra, which had 2014 U.S. sales of $1.1 billion; and a 5 percent increase for Ibrance, a novel breast cancer drug launched last year at a list price of $9,850 per month, or $118,200 per year.

U.S. lawmakers, and presidential candidates, have in recent months stepped up criticism of U.S. drug prices trends, driven in part by eye-popping price hikes from companies with recently acquired generic drugs.

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