Drug firms raise prices in face of health reform

[cal04]

Source: New York Times

Industry aims to set higher price base before legislation passes, critics say

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 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.

Drug makers say they have valid business reasons for the price increases. Critics say the industry is trying to establish a higher price base before Congress passes legislation that tries to curb drug spending in coming years.

Read more: http://www.msnbc.msn.com/id/33959759/ns/health-the_new_york_times/

---

http://www.nytimes.com/2009/11/16/business/16drugprices.html?hp
Drug Makers Raise Prices in Face of Health Care Reform

[Name removed]

1. Deleted message

Message removed by moderator. Click here to review the message board rules.

[SergeStorms]

2. Gotta love this........

"Drug makers say they have valid business reasons for the price increases".

Yeah, just like banks have "valid business reasons" for skyrocketing fees and credit card interest rates before the new laws take effect that prohibit such actions.

"Valid business reasons" = GREED! :grr:

[Dr.Phool]

3. Nobody could have seen that coming!

This country is toast. A wholly owned subsidiary of big business.

The CPI has fallen 1.3%. Unless you count the things you buy. I got my bill for homeowners insurance renewal last week. What was already outrageous, jumped 40 Percent! Electric rates, 30%+ already this year, with more coming.

[Vidar]

4. In Greed we Trust.

[Hepburn]

5. +1

[jasi2006]

6. May be a good thing. Off those meds, a lot of people do much better.

In many cases the popular meds have side affects that keep people in a stupor, sometimes slowing down heart rates to zombie levels, affects memory, coordination etc. and leads to seeking other meds to counter the side affects of other meds. My 90-year old grandmother had stopped taking her meds because she said she couldn't afford to buy them. She really could afford them and had many grands and children helping her. Turns out she was suffering from some kind of dementia and lethargy. She was simply forgetting to take her meds or stuffing them under her pillow. She gradually started making unbelievable turnaround in her health and mental alertness. We could not believe the stunning difference NO meds made in her health. Her blood pressure is higher than her docs say it should be but otherwise, for the last two years she has been doing just great on one aspiring every two days, a multivitamin, coc liver oil. Go figure.