Drugmakers Raise Prices on Hundreds of Medicines

[question everything]

Source: WSJ

Pharmaceutical companies are ringing in the new year by raising the price of hundreds of drugs, with Allergan PLC setting the pace with increases of nearly 10% on more than two dozen products, according to a new analysis.

Many companies’ increases are relatively modest this year, amid growing public and political pressure on the industry over prices. Yet a few are particularly high, including on some generics, the cheaper alternative to branded accounting for nine out of 10 prescriptions filled in the U.S. Overall, price increases, including recently restored price increases from Pfizer Inc., continue to exceed inflation.

More than three dozen drugmakers raised the prices on hundreds of medicines in the U.S. on Tuesday, according to an analysis from Rx Savings Solutions, which sells software to help employers and health plans choose the least-expensive medicines. The average increase was 6.3%, according to the analysis, including increases on different doses for the same drug.

(snip)

Drug pricing remains a hot topic that is expected to draw increased attention from Democrats when they take control of the House this week. Pharmaceutical companies are under the spotlight over the cost of their drugs, with pressure coming from patients, insurers and the Trump administration. “The reason it can keep happening is there is no market check, no person or entity to bring reason to determining drug prices," said Michael Rea, CEO of Rx Savings Solutions. Clients of the Overland Park, Kan., company include Petco and Blue Cross & Blue Shield of Kansas City.

Read more: https://www.wsj.com/articles/drugmakers-raise-prices-on-hundreds-of-medicines-11546389293

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[pecosbob]

1. It's a hard rain's a-gonna fall

[dalton99a]

2. They will keep doing it because they know they can get away with it.

[Brewh]

13. drug prices

I have saved quite a bit using these folks.

https://www.canadianpharmacyworld.com/

[BigmanPigman]

3. The fake prez said he would stop Big Pharm...LIAR!

It will take them Dems to do the work (as usual) and they will not get any thanks from the GOP voters who will benefit from it (as usual).

[LakeSuperiorView]

15. If only he would make this his big pout-rage issue instead of the fucking wall...

He could have his "win" with something that would actually be helpful to people but no... "I wanna a waaaaaallll"

[BigmanPigman]

16. One helps people the other harms people.

He is a sadist so he will always choose what harms others. He is very ill mentally.

[jalan48]

4. They're getting ready for the next election and lots of cash will be necessary.

[mpcamb]

21. It looks like a no-brainer for House Dems.

Pass a bill making prices competitive.
Let Mitch and his boys vote it down, table it, whatever.
Enjoy the political capital.
Contrast Dems with the do-nothing repubs and do it early.

Yeah, there's an election in 2 years.
Plant some seeds.

[jalan48]

22. I totally agree. Let's play offense not defense.

[guruoo]

5. They're hedging in expectation of legislation legalizing importation of

prescription drugs.

[orleans]

6. this

“The reason it can keep happening is there is no market check, no person or entity to bring reason to determining drug prices," said Michael Rea, CEO of Rx Savings Solutions. "

maybe they should compare their u.s. prices with the prices in canada & mexico.

why aren't there laws in place for pharma price gouging?

[pecosbob]

7. Because many in Congress are on Big Pharma's payroll

[Farmer-Rick]

14. Because we are a free trade nation

Deregulation, let the markets dictate, removed barriers to market adjustments, stop enforcing anti-monopoly regulations. These are all talking points of free traders and Americans have bought it hook, line and sinker.

Now, that all the checks and regulations on patents and price control have all been removed (mostly by RepubliCONS), they can go ahead and jack up the price. The sky is the limit. This is how big corporations abuse an entire nation for fun and profit.

[Achilleaze]

8. republican "values" in action

[duforsure]

9. Remember who claimed they would drive drug prices down, trump,

Like W Bush did, then under him drug prices increased 400% , and trump did the same thing here. Claimed he would bring the prices down , then took millions from big pharma, and now we see him doing the opposite of his claims. Once again trump lied and is fleecing the American people with corruption, and bribes, and payoffs funneled to his campaign, then into his account. He intentionally lied about this to get their vote knowing he would reverse his position, which it never really was, and let them do as they pleased with their prices. Seniors especially should vote against ALL republicans to stop this highway robbery .

[watoos]

10. Of course they are,

For the first time in a long time we on Social Security got a 2.8% cost of living raise this year.

The only thing that matters to the GOP/Trump party is to keep the market high until after the 2020 elections. That's what the GOP/Trump tax cut for the rich is doing, it's a sugar high for the market, the market should be soaring.

[Maxheader]

11. Worthless bastards...

[Auggie]

12. Figures ... monthly Social Security benefits increased January 1.

[workinclasszero]

18. Bingo

Big Pharma wants every one of those dollars

[CousinIT]

17. One big way to help fix this problem: Modify Part D and allow Medicare to negotiate lowest prices.

Medicare is a HUGE customer to these robber barons. For Medicare to tell them "we're not going to pay $x when we can get it from Canada for $y"

It would fix the entire problem but it would help. They'd have to pull in their greed-driven horns a little bit at least.

[appalachiablue]

19. K & R Thanx for the (sorry) news

[Scurrilous]

20. K&R