Johnson & Johnson to reveal average drug price increases

January 10, 2017 at 1:18 p.m. | Updated January 10, 2017 at 1:35 p.m.

by Associated Press

FILE - In this July 30, 2013, file photo, people walk along a corridor at the headquarters of Johnson & Johnson in New Brunswick, N.J. Amid the storm over soaring medicine prices, health care giant Johnson & Johnson says that beginning in February 2017 the company will disclose average increases in the list price and what middlemen actually pay for its prescription drugs. That will help J&J’s image more than patients initially, experts say, but it could push other drugmakers to restrain future price increases and be more transparent. (AP Photo/Mel Evans, File)
FILE - In this July 30, 2013, file photo, people walk along a corridor at the headquarters of Johnson & Johnson in New Brunswick, N.J. Amid the storm over soaring medicine prices, health care giant Johnson & Johnson says that beginning in February 2017 the company will disclose average increases in the list price and what middlemen actually pay for its prescription drugs. That will help J&J’s image more than patients initially, experts say, but it could push other drugmakers to restrain future price increases and be more transparent. (AP Photo/Mel Evans, File)

Health care giant Johnson & Johnson plans next month to disclose price increases of its prescription drugs as the industry tries to calm the storm over soaring prices.

Experts say the company's move will help its image more than patients initially, but it could push other drugmakers to tame future price increases and be more transparent. The company says it will divulge average list price increases and what middlemen pay for medicines.

Annual price tags over $100,000 for many new drugs for cancer and rare diseases, plus huge price hikes on old products with little competition, have left some patients unable to afford their medicines.

Staggering prices also have infuriated doctors and politicians, triggering multiple government probes. Now there are signs drugmakers are taking steps to avert U.S. price controls.

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