Reuters reveals drugmakers to hike prices for 2021

Reuters revealed that drugmakers including Pfizer Inc, Sanofi SA, and GlaxoSmithKline Plc planned to raise U.S. prices on more than 300 drugs in the United States on Jan. 1. The hikes come as drugmakers are reeling from effects of the COVID-19 pandemic, which has reduced doctor visits and demand for some drugs. They are also fighting new drug price cutting rules from the Trump administration, which would reduce the industry’s profitability.