Michael Erman, Carl O’Donnell
Michael Erman, Carl O’Donnell
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Exclusive: Drugmakers to hike prices for 2021 as pandemic, political pressure put revenues at risk

Exclusive: Drugmakers to hike prices for 2021 as pandemic, political pressure put revenues at risk

By , NEW YORK (Reuters) - Drugmakers including Pfizer Inc, Sanofi SA, and GlaxoSmithKline Plc plan to raise U.S. prices on more than 300 drugs in the United States on Jan. 1, according to drugmakers and data analyzed by healthcare research firm 3 Axis Advisors.The hikes come as drugmakers are reeling from effects of the COVID-19 pandemic, which has reduced doctor visits and demand for some drugs. They are also fighting new drug price cutting rules from the Trump administration, which would reduce the industry’s profitability.The companies kept their price increases at 10% or below, and the...

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December 31, 2020
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Eli Lilly pauses trial of antibody drug Trump touted as COVID-19 'cure' over safety concern

Eli Lilly pauses trial of antibody drug Trump touted as COVID-19 'cure' over safety concern

By , Lilly said earlier this month it was applying for emergency use authorization (EUA) for the antibody drug, LY-CoV555, for patients with mild to moderate COVID-19 based on data from another clinical trial.It is not uncommon to pause drug trials to investigate safety concerns, and such actions do not necessarily indicate a serious problem. Because of the urgent need for drugs and vaccines to tackle a pandemic that has claimed over 1 million lives worldwide - and the speed with which they are being developed - these trials have come under intense scrutiny.“Out of an abundance of caution,...

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October 13, 2020
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