Hundreds of Drugs See New Year Price Hikes, But Fewer Than Last Year

Drugmakers hiked the price of more than 250 drugs on January 1 — compared to more than 400 at this time last year, according to data from price tracking firm Rx Savings Solutions.

The average price increase was 6.3 percent, with Allergan out front with increases of around 9.5 percent for 51 of its products.

“January 1 represents a date in time where some drug companies determine that despite any new innovations, their drugs are worth significantly more money,” said Rx Savings Solutions CEO Michael Rea. “Despite the increased public pressure from politicians, we continue to see hundreds of prescription medication prices increase more than four times the inflation rate.”