ICER Criticizes Five Pharma Giants for Unjustified Price Hikes on Key Drugs

The Institute for Clinical and Economic Review (ICER) has identified five major pharmaceutical companies that have imposed unjustified price hikes on key medications, leading to an additional $815 million burden on U.S. payers in 2023[1][2]. The drugs singled out include Gilead Sciences' Biktarvy, Johnson & Johnson's Darzalex, Novartis' Entresto, Exelixis' Cabometyx, and Pfizer's Xeljanz. Notably, Biktarvy's price increased by 5.9%, resulting in $359 million in excess spending alone[1][2]. Despite the criticism from ICER, companies such as Gilead have defended their actions by citing FDA label updates, and J&J has contested ICER's methodology, arguing it might impede the innovation of new medicinal therapies[1][2].