Price hikes for hundreds of medications

U.S. drug companies have started the new year by raising the prices of hundreds of medications.

Just a few days into 2020, the prices of 411 drugs increased an average of 5 percent, according to GoodRx. Of those drugs, 407 are brand-name products and four are generics, CBS News reported.

The largest increase was a more than 13 percent rise in the list price of Neos Therapeutics' Cotempla XR, a stimulant used to treat attention-deficit/hyperactivity disorder and narcolepsy. Other commonly prescribed drugs with price increases include Eliquis (6 percent), often prescribed to prevent blood clots, and Humira (7.4 percent), used to treat inflammation in patients with autoimmune disease, CBS News reported.

More drugs are likely to see price hikes in the coming weeks, experts added.