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Drugmakers Celebrated the New Year by Raising Prices on Hundreds of Drugs
One of Trump's repeated promises (lies) during the campaign was to go after pharmaceutical companies and take action to lower prescription drug prices As a follow-up to our November 27, 2018 post, drug makers are jacking up prices proving Trump a liar and fool which we all knew already.
Three dozen drugmakers are raising prices on more than 250 prescription drugs.... The average price increase will be around 6.3%, although some drugs will see prices increase by 10% or more. Drugmakers typically increase prices on many drugs in their portfolios at the beginning of the year....
For example:
Allergan Plc raised prices on more than 50 drugs, with most of them rising by 9.5%...
AbbVie Inc, meanwhile, increased the price of Humira, an arthritis treatment that is the words’ top-selling drug, by 6.2%.
Some of the biggest price increases came from pain medications. Zingo, a pain treatment from 7T Pharma, rose by 133%, while pain medications from Hikma and Vertical Pharmaceuticals rose between 10% and 20%...
Why would a White House owned by corporate interests do such a thing to help the American people? Turns out they won't. Trump told them not to hike prices until after the election. Ten days after, they announced price increases.
In July, Trump called out Pfizer and other drugmakers for price increases, saying they “should be ashamed that they have raised drug prices for no reason.” Pfizer responded back then by delaying a proposed increase on some of its drug prices, but in October the company reportedly indicated it would eventually raise prices between 3% and 9%.
Now it's 2019 and the game's as rigged as ever.
Sources:
http://fortune.com/2019/01/02/dozens-drugmakers-celebrate-new-year-raising-prices-hundreds-drugs/