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Drug Companies Increase Prices Prior To Health Reform Votes

In a front page story, the New York Times (11/16, A1, Wilson) reports, “Even as drugmakers promise to support Washington’s healthcare overhaul by shaving $8 billion a year off the nation’s drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years.” The industry over the last year “has raised the wholesale prices of brand-name prescription drugs by about 9 percent, according to industry analysts,” and “will add more than $10 billion to the nation’s drug bill, which is on track to exceed $300 billion this year.” The drugmakers “say they have valid business reasons for the price increases,” while critics “say the industry is trying to establish a higher price base before Congress passes legislation that tries to curb drug spending in coming years.”

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November 16, 2009 - Posted by | drugs, Federal Government, healthcare | , , , ,

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