Despite the economic hardships the Covid-19 pandemic has created for many Americans, drug makers raised list prices on 42 brand-name medicines by an average of 3.5% this month, surpassing the number of price hikes taken by the pharmaceutical industry at this time a year ago.
The price increases added to the average 6.8% price hikes that companies took on 857 brand-name and generic drugs between January and June, according to data compiled by GoodRx, which tracks prescription drug pricing and provides free coupons for discounts on medications. Drug makers generally raise prices twice a year: in January and in July.
The biggest price hike was for a stimulant called Adzenys XR-ODT, which jumped 10% on July 1. Then there was the Addyi female libido pill, which rose 9.3% this month, making for a 19.5% total yearly increase. And the Bidil heart failure medicine climbed 4.5%, contributing to a 9.7% price increase since the beginning of the year. We asked the companies for comment and will pass along any reply.
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