New year comes with price hikes from pharmaceutical companies

WASHINGTON, D.C. (NBCNC) – In the new year many people set goals and resolutions. The pharmaceutical industry—they set prices. And this year, prices are going up.

More than three dozen drug makers raised the price on hundreds of medicines, averaging a six percent increase. Drug maker Allergen had the highest increase, nearly ten percent, on more than two dozen of their products according to a recent analysis. Rising drug prices are still hurting the patients who need it most.

David Mitchell is the president & founder of Patients for Affordable Drugs. He said,  “These are people who are skipping their doses, cutting pills in half, people with insulin-dependent diabetes who have to not use the amount they should use. People who are declaring bankruptcy, people who are refinancing their homes because drugs are too expensive. A milestone for us is to make sure policymakers and elected officials hear from real people who are affected by this and who are demanding change reforms that will actually lower drug prices.”

These same pharmaceutical companies are under major scrutiny in Washington as Democrats draw attention to these price hikes and the Trump administration pressures the companies to disclose the cost of their drugs. Anne Thompson reports Wednesday on Nightly News with Lester Holt.

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