Drugmakers Just Hiked Prices for Over 500 Medicines

Pharmaceutical companies just raised list prices for over 500 medicines, including Novo Nordisk's Ozempic, Gilead's HIV-1 treatment Biktarvy and Genentech's hemophilia A medication Hemlibra.

Drugmakers typically increase prices in the U.S. every January, according to 46brooklyn Research, a nonprofit group that analyzes drug prices. And although this month's price hikes are comparable with those in recent years, consumers and insurance companies will likely feel the impact.

"For patients in high-deductible health plans or who have cost sharing arrangements that are based on the list price, the increases will hit them," Antonio Ciaccia, CEO of 46brooklyn, writes in an email to Money.

The median increase among medicines with a price hike was about 4% for 2025. That's actually slightly below the typical increases from 2019 to 2024, which ranged from 4.5% to 5%. Of all the January 2025 price changes so far recorded, only seven have been price decreases.

The list price is the full "sticker" price of a medicine before any discounts. Insurance companies then negotiate discounts and rebates on drug prices, which means their net price — what they actually pay — is typically less than the list price.

Still, Ciaccia says, a list price increase can lead to a higher cost for insurance companies, depending on the competitive landscape of the particular drug.

In other cases, drug companies may increase list prices to be able to offer larger rebates, making their medicines eligible for government programs like Medicaid. "For government programs, these price increases could actually yield increased rebates (that even eclipse the value of the increase itself)," Ciaccia says.

The high cost of prescription drugs is a constant topic of discussion in the U.S., as studies have shown that Americans spend far more on medications than people in other countries.

Representatives in Washington offer differing views about what's wrong with the drug pricing systems in the U.S. Democrats have criticized big pharmaceutical companies for their exorbitant drug prices, arguing that firms aiming to maximize profits have prioritized payouts to investors and executives over research and development. Republicans tend to blame high costs on powerful pharmacy benefit managers, which are middlemen between drugmakers and insurers.

Notable prescription drug price increases for 2025

Pfizer shows up in 46brookyn's database of drug price increases more than any other drugmaker, with 67 price increases. Other large pharmaceutical companies including GSK, Bausch, Gilead and Bayer each increased prices for at least 10 products.

Here are 10 of the largest and most impactful prescription drug prices, highlighted by 46brooklyn:

• Collegium's Nucynta oral tablet — 15% list price increase
• Bausch's Aplenzin oral tablet, extended release — 9.9%
• Genentech's Hemlibra solution for injection — 8%
• Harmony's Wakix oral tablet — 7%
• Almirall's Aczone topical gel — 6.1%
• Gilead's Biktarvy oral tablet — 5.9%
• Entasis's Xacduro powder for solution for injection — 5.1%
• BioMarin's Palynziq solution for injection — 4.6%
• Novo Nordisk's Ozempic solution for injection — 3%
• Boehringer Ingelheim's Jardiance oral tablet — 3%

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