▪ Drugmakers raised prices on more than 400 drugs in the early days of 2020,

including two blockbuster cancer treatments that have been top-expenditure drugs in Medicare Part B, according to analyzed prices and CMS data. The CMS attributed an increase in Part B premiums and deductibles in 2020 to increased spending on physician-administered drugs. Two of the 10 physician-administered drugs that Medicare spent the most money on in 2018, the most recent data available, have seen price increases this January, healthcare research firm 3 Axis Advisors found. Merck instituted a price increase of 1.5% for Keytruda, the second-highest expenditure Medicare Part B drug in 2018. Bristol-Myers Squibb Co. increased the price for Opdivo, a drug used to treat small-cell lung cancer, by 1.5%. Opdivo was the third-highest Part B expenditure drug in 2018. More price hikes could come later in the month as drugmakers delay customary price increases to avoid scrutiny. Drugmakers can raise prices at any time. GoodRx, a company that helps consumers find lower prices on medicines at pharmacies, noted that the average January 2020 drug price increase so far is 5%, compared with 5.2% in 2019 and 8% in 2018.