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Pfizer defers July 2018 price increases

by Mary McNitt | Aug 16, 2018

Pfizer announced that their July 1 medication price increases were rolled back due to market pressures. The intended price increases are not permanently suspended and Pfizer has stated that they have only been deferred until the end of the year.

One particular medication of interest in workers’ compensation made by Pfizer is Lyrica® (pregabalin), which is FDA-approved for the treatment of partial seizures, diabetic peripheral neuropathy, fibromyalgia, postherpetic neuralgia, and neuropathic pain due to spinal cord injury. Historically, the average wholesale price (AWP) of Lyrica has increased by 9.44 percent every six to twelve months. A price increase of 7.9 percent took place on January 1, 2018, bringing the AWP up to $8.92 per capsule. The intended price increase for Lyrica on July 1 was expected to be 4 percent which would have increased the price to $9.27 per capsule. For example, a typical prescription for sixty Lyrica capsules would have cost $556.20 with the deferred price increase; however, for the time being, sixty Lyrica capsules will remain priced at $535.20 based on AWP.

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Sources:

  1. Pfizer (2018). Pfizer Announces it Will Defer Company’s Price Increases. [online] Available at: https://www.pfizer.com/sites/default/files/news/Pfizer%20Statement%20July%2010,%202018_0.pdf Accessed July 31, 2018
  2. FiercePharma. Pfizer’s bow to Trump won’t just hit its own prices—it’ll put a chill on hikes, period. July 11, 2018. Available at: https://www.fiercepharma.com/pharma/pfizer-retreats-after-pressure-from-trump   Accessed July 31, 2018.

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