Summary

Over 250 branded drugs in the U.S. will see price increases starting Jan. 1, 2025, with most hikes below 10% and a median increase of 4.5%.

Key companies like Pfizer, Bristol Myers Squibb, and Sanofi are raising prices on treatments for COVID-19, cancer, and vaccines, citing R&D costs and inflation.

Some prices, such as Merck’s diabetes drugs, will be reduced.

Critics highlight that U.S. drug prices remain the highest globally, while manufacturers face pressure to moderate year-over-year price hikes.