Sunday, October 05, 2014

Congress Investigating Why Generic Drug Prices Are Skyrocketing - Senator Bernie Sanders of Vermont

Congress Investigating Why Generic Drug Prices Are Skyrocketing - Senator Bernie Sanders of Vermont



Interesting question. Especially for generic drugs, which are supposed to be the low cost alternative, aren't they?





BURLINGTON, Vt., Oct. 2 – U.S. Sen. Bernie Sanders (I-Vt.) and U.S.
Rep. Elijah E. Cummings (D-Md.) today launched an investigation into
soaring generic drug prices.


“We are conducting an investigation into the recent staggering price
increases for generic drugs used to treat everything from common medical
conditions to life-threatening illnesses,” Sanders, chairman of a
Senate health care subcommittee, and Cummings, ranking member of the
House oversight committee, wrote in letters to 14 pharmaceutical
companies.


They pointed, for example, to the price hike for Albuterol Sulfate
used to treat asthma and other lung conditions. The average cost for a
bottle of 100 pills was $11 last October. The average charge by this
April had shot up to $434. An antibiotic, Doxycycline Hyclate, cost $20
last October for a bottle of 500 tablets. By April, the price was
$1,849.


From $11 to $434? That seems impossible. 

Let's hope Bernie gets some answers.

No comments: