With pharmaceutical companies hiking prices on nearly 1,000 drugs in January, some consumers might experience sticker shock next time they pick up prescriptions.
Major drug companies such as AbbVie, Pfizer and Bristol-Myers Squibb have raised prices so far this month, according to data provided by, a nonprofit that researches drug pricing. The amount consumers pay depends on their insurance coverage and complex rebates often hidden from public view.
Analysts say it's too early to tell whether this month's batch of price hikes were influenced by the federal law. But experts say drugmakers likely will launch new drugs with more expensive prices and seek to maximize sales before Medicare can bargain for more affordable prices. Prices on more than two dozen drugs swelled 10% or more, but the vast majority had smaller increases, and prices on more than two dozen drugs increased 1% or less.
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