Pfizer raises prices for dozens of drugs

Despite growing scrutiny, Pfizer raised the list prices for more than 40 prescription drugs this week. After the rising prices of epinephrine (EpiPen) allergy treatments sparked criticism, several of Pfizer's rivals have promised to lift list prices only once a year and by less than 10% overall for the period.

Despite growing scrutiny, Pfizer raised the list prices for more than 40 prescription drugs this week. After the rising prices of epinephrine (EpiPen) allergy treatments sparked criticism, several of Pfizer's rivals have promised to lift list prices only once a year and by less than 10% overall for the period. However, this is Pfizer's second round of drug price increases this year, with many of the increases raising the prices by 9.4%—and by double-digit percentages for the year overall. Pfizer CEO Ian Read has pushed back against the criticism, noting that spending in the United States on prescription drugs has held relatively steady as a percentage of overall health care spending. "The list price remains unchanged for the majority of our medicines," Pfizer said in a statement. "We are modifying prices for about 10% of our medicines, including some instances where we're decreasing the price."