Albemarle ( ALB - Get Report) said it will raise the prices of its bulk ibuprofen by 40% for markets outside of the United States, Western Europe and Japan effective immediately, or as contracts allow.

The Richmond, Va.-based company said the price hike is needed to help offset the significant price increases in raw materials and energy it has been absorbing for several years.

This story was created through a joint venture between TheStreet.com and IRIS.