Drugmakers thumb nose at government pressure, hike drug prices at every opportunity
by: Jennifer Lea Reynolds
NaturalNews.com
Monday, January 18, 2016
Despite the public’s outrage at the pharmaceutical drug industry’s price increases that basically occur on a regular basis, Big Pharma. They’re even determined to jack prices up to outrageous – and often unaffordable – levels, despite the fact that politicians, and even the very medical professionals that recommend them, are questioning such actions.
Here’s one for you: At the start of the new year 2016, Vanda Pharmaceuticals Inc. decided to increase the price of a drug that treats sleeping disorders in blind people by 10 percent. The cost is now 76 percent higher than when it was introduced just two years prior, in 2014. The bottom line in this instance? People relying on this drug best be prepared to dish out $148,000 every year, or thank their lucky stars that they (hopefully) have some darn good health insurance. Either way, the price increase is horribly unfair.(1)
But Vanda Pharmaceuticals isn’t alone in their decision to boost drug prices. Pfizer Inc., Amgen Inc., Allergan PLC, Horizon Pharma PLC and many others have also jumped on the greedy bandwagon; equity analysts estimate that such companies have increased their prices upwards of 10 percent since December 2015.(1)
Happy New Year, everyone!
Out-of-control examples of “pricing power” at work
The Rest…HERE
