Allergan Drug Price Hikes Are in Effect, Though Increases Are Modest
Allergan raises the prices on nine drugs, but keeps the increases reasonable.
Allergan (AGN) - Get Report kept its drug price hikes, which took effect on Jan. 1, limited to a single-digit percentage increase, especially after Mylan (MYL) - Get Report was slammed by politicians for hiking the cost of its life saving EpiPen drug by some 400%.
Allergan raised the prices of nine drugs to the tune of 9% or 9.5%, according to Jefferies analysts, and those will be the only increases for the drugs this year. The brands include Linzess and Restasis, among others.
Allergan's stock rose more than 2.2% on Tuesday.
