Johnson & Johnson increases US prices on two-dozen prescription drugs
Category: #health  By Pankaj Singh  Date: 2019-01-13
  • share
  • Twitter
  • Facebook
  • LinkedIn

Johnson & Johnson increases US prices on two-dozen prescription drugs

* The company becomes the latest in a list of several other companies to increase the US prices on its drugs.

* The move comes on the same day Democratic Congress members proposed a bill that aims to lower prescription drug prices for American customers.

Johnson & Johnson (J&J), a renowned American multinational pharmaceutical company, has reportedly announced that it has raised the U.S. prices on over two-dozen of its prescription medicines.

Reports cite, some of the drugs with reformed prices include, prostate cancer medicine Zytiga, blood thinner Xarelto and psoriasis treatment Stelara, all from the company’s line of top-selling pharmaceutical products. According to a report by Channel NewsAsia, with the announcement, the company is the latest to join a list of several other pharmaceutical companies that have increased the US prices on their respective drugs. A majority of the company’s drug price revisions were between the 6% to 7% range.

The rise in the company’s drug prices comes on the same day the Democratic members of Congress proposed a new legislation that aims to lower the cost of prescription medicines for consumers across the United States.

The company reportedly stated that the increase in the average list price of its drugs would be around 4.2% this year. However, J&J expects the actual net price it receives on its medicines to drop. This is because pharmaceutical drug manufacturers typically negotiate rebates & discounts off the product’s list price with its payers to ensure appropriate patient access to the products.

For the record, the Unites States is the most lucrative market for pharmaceutical companies as the nation’s government, unlike other governments across the world, lets market competition decide the drug pricing.

According to reports, Johnson & Johnson spokesperson, Ernie Knewitz stated that the company does not further intend to increase the prices on any more of its prescription medicines this year.



About Author

Pankaj Singh

Email: [email protected]   

Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More News By Pankaj Singh

British Land agrees to sell 12 retail superstores for £429 million
British Land agrees to sell 12 retail superstores for £429 million
By Pankaj Singh

The transaction is expected to be completed by the end of May.

British Land Company plc reportedly expects receiving net proceeds of about £95 million from it...

Reliance Retail considering the acquisition of toys giant Hamleys
Reliance Retail considering the acquisition of toys giant Hamleys
By Pankaj Singh

87 of the 130 stores that Hamleys has across the globe are located in India and Reliance plans to add more stores in the country in 2019.

Reliance Retail, India&rsq...

Medbelle raises €6 Mn in Series A funding round for digital hospital
Medbelle raises €6 Mn in Series A funding round for digital hospital
By Pankaj Singh

Medtech startup Medbelle is reportedly building the first-ever digital hospital in the world, designed to supports patients through every step, starting from signup to aftercare. As per trusted sources, more than 30,00...