Industry aims to set higher price base before legislation passes, critics sayEven 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 drug trend is distinctly at odds with the direction of the Consumer Price Index, which has fallen by 1.3 percent in the last year.
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2 comments:
Obama has made it clear that he has declared the war on terror over and the detainees are no longer to be treated as war criminals. he is coming to the aid of his Muslim brothers once again.
I'm not surprised by this. It's no different than the auto makers raising their prices ahead of cash for clunkers.
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