Pharma companies boost drug prices to start year, but hikes lag inflation

Pharmaceutical companies began the new year as they often do, raising the sticker prices on hundreds of prescription medicines.

On average, drugmakers hiked list prices by 5%, according to analysts who track the industry. That figure is in line with increases taken in the past four years, but below the national consumer inflation rate in 2022. Companies typically make the bulk of their price adjustments at the beginning of each year, although some also bump up prices in July.