The costs of over 350 different drugs are set to rise in the United States this year as multiple pharmaceutical companies, including Pfizer, prepare for President Joe Biden’s Inflation Reduction Act (IRA) to take effect and inflation continues to soar.
Pfizer, AstraZeneca, GlaxoSmithKline, Bristol Myers Squibb, and Sanofi are among several drugmakers set to raise prices on more than 350 products from January, according to an analysis conducted by health care research firm 3 Axis Advisors.
Along with the IRA, the price hikes are also in response to the soaring cost of living and continued supply chain constraints that have led to higher manufacturing costs.
Under the IRA, the government’s Medicare program will be able to directly negotiate the prices of some drugs that don’t have competition starting in 2026. The increases are on list prices, which do not include rebates to pharmacy benefit managers and other discounts.
The Medicare health insurance program covers individuals who are 65 or older and those with certain disabilities.
Specifically, the provision allows the government to negotiate a “fair price” for 10 drugs covered by Medicare Part D in 2023, with those prices being implemented three years later. The negotiated price list expands to 15 drugs in 2027 and 2028 and 20 in 2029.
Drugs selected for 2026 price negotiation will be announced by Sept. 1, 2023, and manufacturers that don’t follow the negotiation requirements will be subject to tax and penalties.
Drugmakers Raised Cost of Over 1,000 Drugs in 2022
Although drugmakers tend to avoid implementing major price hikes, a drug pricing non-profit that is related to 3 Axis called 46brooklyn Research found that manufacturers raised the prices of 1,400 different drugs in 2022, marking the most increases since 2015.
JD’s manually curated links for God-fearing MAGA patriots
According to 46brooklyn, the median drug price increase was 4.9 percent last year, while the average increase was 6.4 percent. Both of those increases are, however, lower than the current inflation rates in the United States.
However, Antonio Ciaccia, president of 3 Axis, said that the IRA would implement a dynamic in which drugmakers launch products at higher costs so that further price hikes aren’t required.
An example is Biogen’s highly controversial Alzheimer’s drug Aduhelm, which initially came with a price tag of $56,000 per year. That was later halved following public backlash and scrutiny over the drug’s efficacy.
A report released on Dec. 29 by the House Oversight and Energy and Commerce committees found that the U.S. Food and Drug Administration’s approval process for the drug was “rife with irregularities” and “highly atypical.”
“Drugmakers have to take a harder look at calibrating those launch prices out of the gate … so they don’t box themselves in to the point where in the future, they can’t price increase their way back into profitability,” Ciaccia said.
To date, Pfizer has announced the most increases across 89 unique drug brands, including a 6 percent rise in the cost of Xeljanz, a treatment for autoimmune diseases including rheumatoid arthritis and ulcerative colitis, and 7.9 percent increases for cancer drugs Ibrance and Xalkori.
The New York-headquartered company also implemented an additional increase in 10 drug brands at its Hospira subsidiary.
Inflation Is 1 Reason for Price Hikes
London-headquartered GSK, formerly GlaxoSmithKline, has announced the second highest amount of increases, with planned hikes so far in 26 unique drugs, including nearly a 7 percent increase on its FDA-approved vaccine for the prevention of shingles, Shingrix.
COVID-19 vaccine maker AstraZeneca is also set to raise prices around 3 percent for its blood cancer treatment Calquence, non-small cell lung cancer drug Tagrisso, and asthma treatment Fasenra, while Bristol Myers Squibb is set to hike its CAR-T cell therapies Abecma and Breyanzi by 9 percent. Both of those blood cancer treatments were already more than $400,000 a year.
French multinational pharmaceutical and health care company Sanofi also plans to raise prices on 14 of its drugs or vaccines.
A Pfizer spokesperson attributed the price hikes to much-needed support investments in drug discovery and noted that net prices—those the company actually receives for its drugs—have fallen in the past four years owing to what Pfizer says are higher rebates and discounts paid to insurance companies and pharmacy benefit managers.
AstraZeneca spokesman Brendan McEvoy said the company has “always taken a thoughtful approach to pricing, and we continue to do so, considering many factors.”
A spokesperson for Bristol Myers Squibb credited the price hikes to increased inflation, the value of the therapies, and the “personalized nature” behind the manufacturing of CAR-T cell therapies.
A Sanofi spokesperson said the price hikes in 2023 are “consistent with its approach to responsible pricing, adherence to government policies, and the need to respond to evolving trends in the marketplace.”
Reuters contributed to this report. Article cross-posted from our premium news partners at The Epoch Times.
Bypass Big Tech Censors
Safeguarding Your American Dream: Discover the Power of America First Healthcare
In today’s economy, healthcare costs remain one of the biggest threats to financial stability and family security. Americans work hard to build a better life, yet rising medical expenses can quickly erode savings, force tough trade-offs, and even push families toward debt or bankruptcy. Medical bills continue to rank as the leading cause of personal bankruptcy in the United States, with millions facing underinsurance or unexpected out-of-pocket burdens that no one plans for. Many turn to government-run marketplace plans under the Affordable Care Act, hoping for relief, only to discover that what appears affordable on paper often delivers higher long-term costs, limited real protection, and coverage that may not align with personal values or family needs.
America First Healthcare stands out as a private insurance agency dedicated to helping conservatives and families secure better coverage and better rates through customized, values-aligned options. By conducting free insurance reviews, the agency uncovers hidden gaps in existing policies and connects clients with private alternatives that emphasize personal responsibility, small-government principles, and genuine affordability—often delivering up to 20% savings while providing stronger protection for the American Dream.
The allure of marketplace plans is easy to understand: open enrollment periods, premium tax credits for many households, and the promise of “comprehensive” benefits mandated by law. Yet recent data reveals a different reality, especially after the expiration of enhanced premium subsidies at the end of 2025. Enrollment for 2026 dropped by more than one million people compared to the prior year, with many shifting to lower-tier bronze plans to keep monthly premiums manageable.
These plans feature significantly higher deductibles—averaging around $7,500 nationally—and greater cost-sharing requirements. Families who once paid modest amounts after subsidies now face average premium increases of $65 or more per month, even as they accept plans that leave them responsible for thousands in upfront costs before meaningful coverage kicks in.
High deductibles create a dangerous barrier to care. Studies show that people in such plans are less likely to seek timely treatment for chronic conditions, attend preventive screenings, or fill necessary prescriptions. A seemingly minor illness or injury can balloon into major expenses when patients delay care until problems worsen. For a family of four, a single hospitalization, cancer diagnosis, or unexpected surgery can easily exceed the deductible, triggering coinsurance and out-of-pocket maximums that still leave substantial bills. One recent analysis noted that some proposed changes could push family deductibles toward $31,000 in future years, further exposing households to financial risk.
Beyond the numbers, marketplace plans often carry structural limitations. Coverage for certain critical services may include waiting periods or narrower networks that restrict access to preferred doctors and specialists. Preventive care is required to be covered without cost-sharing, but everything else—lab work, imaging, specialist visits, or ongoing treatment—typically waits until the deductible is met. This reactive model contrasts sharply with the proactive, holistic approach many families prefer, especially those focused on wellness, early intervention, and maintaining health to enjoy life rather than merely reacting to illness.
Values alignment represents another growing concern. Government-influenced plans operate within a framework shaped by federal mandates and political priorities that may not reflect conservative principles of limited government, personal freedom, and ethical stewardship. Families who want to direct their healthcare dollars toward providers and benefits that honor traditional values sometimes find marketplace options feel misaligned, forcing a compromise between affordability and conviction.
Private alternatives, by contrast, offer year-round flexibility without the restrictions of open enrollment windows. Independent agents can shop across a wider range of carriers to design plans tailored to specific family needs—whether that means lower deductibles for frequent medical users, broader provider networks, or add-ons that support wellness and preventive services from day one. Clients frequently report more stable premiums that do not automatically escalate each year, along with genuine cost savings once the full picture of deductibles, copays, and coverage depth is considered.
Take the experience of real families who made the switch. Amanda C. shared that her new plan felt “way better” than what she had through the marketplace. Johnny Y. noted his previous coverage kept increasing annually until he found a more stable private option. Sofia S. expressed delight with her plan and began recommending it to others. These stories echo a common theme: when families move beyond one-size-fits-all government marketplaces, they often discover customized protection that better safeguards both health and finances.
Founder Jordan Sarmiento’s own journey underscores the stakes. In 2021, a six-day hospitalization generated a $95,000 bill. Under a well-structured private “Conservative Care Coverage” plan, his out-of-pocket responsibility would have been just $500. That stark difference illustrates how thoughtful planning and private options can prevent a medical event from becoming a financial catastrophe.
Practical steps exist for anyone questioning their current coverage. Start with a no-obligation review of your existing policy to identify gaps—high deductibles, limited critical-care benefits, or escalating premiums. Compare total projected costs (premiums plus potential out-of-pocket expenses) rather than monthly premiums alone. Consider family health history, anticipated needs, and lifestyle priorities. Private agencies can present side-by-side options that include stronger wellness incentives, broader access, and plans built on shared values of self-reliance and freedom.
In an era when healthcare inflation continues to outpace general cost-of-living increases, relying solely on marketplace solutions carries growing risk. Families who proactively explore private alternatives frequently achieve meaningful savings while gaining peace of mind that their coverage truly works when needed most.
America First Healthcare makes this exploration straightforward through its free review process. Families and individuals receive personalized guidance to close coverage holes, reduce unnecessary expenses, and secure plans that align with conservative principles—protecting wallets, health, and the American Dream without government overreach. Many who complete a review discover they can enjoy better benefits for less, often saving up to 20% while gaining the customization and stability that marketplace plans struggle to deliver.
Ultimately, protecting your family’s future requires looking beyond the marketing of “affordable” government options. By understanding the long-term costs hidden in high deductibles, shifting coverage tiers, and values mismatches, Americans can make empowered choices. Private, values-driven insurance offers a smarter path—one that rewards diligence, supports wellness, and delivers real security. For those ready to move beyond the limitations of traditional marketplace plans, a simple review can reveal options designed to serve families, not bureaucracies. The American Dream thrives when individuals and families retain control over their healthcare decisions, and thoughtful private coverage plays a vital role in making that possible.