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As Albany legislators and Gov. Kathy Hochul continue to advance their affordability agenda, they should confront an alarming trend: big drug companies raising prescription drug prices for New Yorkers.

The price hikes are part of an annual cycle in which drug companies raise prices in January and then again in the summer. So far in 2025, there have already been over 1,000 price increases on brand-name drugs, with a median hike of 4.5%, far outpacing the 2.7% inflation rate. Big Pharma isn’t just keeping up with rising costs; they are boosting their prices well beyond inflation to pad their profits.

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These price hikes are hurting New Yorkers. Working families are already grappling with rising health care costs. Higher prices for medications make it harder for patients to access the treatments they need to stay healthy.

Brand-name drug companies are responsible for setting the prices of the prescription drugs in their portfolios. To maximize profits at the expense of patients and taxpayers, Big Pharma........

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