Pfizer hikes prices on 100 drugs

Pfizer hikes prices on 100 drugs
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Pharmaceutical giant Pfizer raised prices on about 100 drugs this week, the second round of increases for the company this year.

Overall, many of the drugs’ prices have increased by double-digit percentages this year, according to Ars Technica. The Financial Times first reported the price hike.

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Among the drugs who have seen price hikes are Viagra, the erectile dysfunction drug, and Norvasc blood pressure pills.

The increased prices come amid heightened focus from lawmakers on drug prices.

President TrumpDonald John TrumpWhite House counsel called Trump 'King Kong' behind his back: report Trump stays out of Arizona's ugly and costly GOP fight Trump claims he instructed White House counsel to cooperate with Mueller MORE has vowed to address high drug costs and said in May that drug companies would “voluntarily” begin to reduce prices in the coming weeks.

“I think we’re going to have some of the big drug companies, in two weeks, they're going to announce, because of what we did, they’re going to announce voluntary massive drops in prices,” Trump said after signing a bill to help terminally ill people access experimental treatments.

However, companies have not yet announced voluntary cuts, and Trump administration officials have declined to provide further information on what Trump’s remarks meant.

Pfizer said in a statement that the company decreased the prices for some of its drugs, and kept prices the same for the majority of products. The Financial Times found five products with decreased prices in this week’s listings.

The products with higher prices listed this week are some of the company’s best-selling, according to Ars Technica, including Lyrica painkillers, anti-smoking drug Chantix and a lung cancer medication. Most of the raises were under 10 percent increases in this round alone.

The Trump administration put out a plan to lower drug prices earlier this year, but the plan has faced criticism from Democrats, who say it is too soft on drug companies.