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Pharmas quickly raise prices for drugs | I Am So Annoyed

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Pharmas quickly raise prices for drugs

Monday, November 16th, 2009   7:31 am | Author: freethinker | Health/Medical, Politics/Government, Services/Products |
Tags: , , ,

Last month the NYT ran a story about insurance companies raising premiums to ridiculous levels in anticipation of health care reform.

 

Now the second shoe drops. In another story today in the NYT reports that the drug companies are also raising rates on medications before any legislation is enacted.

 

Just another blaring indicator why health care reform is required immediately. These companies are just out to screw Americans as quickly as possible and boost their bottom lines.

 

The Times notes “Even as drug makers promise to support Washington’s health care 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.”

 

“In the last year, the industry has raised the wholesale prices of brand-name prescription drugs by about 9 percent, according to industry analysts. That will add more than $10 billion to the nation’s drug bill, which is on track to exceed $300 billion this year. By at least one analysis, it is the highest annual rate of inflation for drug prices since 1992.”

 

The joke of the day comes from Ron Rogers a spokesman for Merck “Price adjustments for our products have no connection to health care reform”.

 

Stephen W. Schondelmeyer, a professor of pharmaceutical economics at the University of Minnesota stated that ”This year’s increases mean the average annual cost for a brand-name prescription drug that is taken daily would be more than $2,000 — $200 higher than last year”.

 

Then you have clowns like John McCain speaking at a town hall meeting this weekend declaring that he will fight health care reform “with every fiber in his body”.

 

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