Pfizer Raises Drug Prices, Goes International To Avoid US Taxes [Picture]
Pfizer Inc, which plans a $160-billion (Rs 10.7 lakh crore) merger with Ireland-based Allergan Plc to slash its US tax bill, on January 1 raised US prices for more than 100 of its drugs, some by as much as 20%
Pfizer Inc, which plans a $160-billion (Rs 10.7 lakh crore) merger with Ireland-based Allergan Plc to slash its US tax bill, on January 1 raised US prices for more than 100 of its drugs, some by as much as 20%, according to statistics compiled by global information services company Wolters Kluwer.Pfizer confirmed a 9.4% increase for heavily advertised pain drug Lyrica, which generated $2.3 billion (Rs 15,384.6 crore) in 2014 US sales; a 12.9% increase for erectile dysfunction drug Viagra, which had 2014 US sales of $1.1 billion (Rs 7,357.89 crore); and a 5% increase for Ibrance, a novel breast cancer drug launched last year at a list price of $9,850 per month, or $118,200 per year.
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