Drugmakers are starting 2019 with a slew of price hikes, affecting more than 1,000 medications.YAY.😠😠😠 The average increase amounts to about 6 percent, said Michael Rea, founder and CEO of RX Savings Solutions, which sells software that helps employers and health plans analyze drug prices. Among the best-known drugs getting costlier are the opioid #OxyContin, with a 9.5 percent jump, and the blood thinner #Pradaxa, up 8 percent.
Those increases underscore the challenges facing consumers and health care plans as drug costs far outpace the rate of inflation or wage growth. Americans spent $535 billion on prescription drugs last year, an increase of 50 percent since 2010, according to one estimate. "A 9 percent increase isn't just over inflation -- it's four times inflation," Rea noted. "No matter what, that effect is felt by consumers, by payers and the solvency of public and private health plans." #Inflation around the U.S. remains around 2 percent.
Purdue Pharmaceuticals, the manufacturer of OxyContin, didn't immediately return requests for comment.
Boehringer Ingelheim Pharmaceuticals, the maker of #Pradaxa, said its goal "is for no patients to be denied access to our medicines because of cost." The company offers programs for patients who can't afford medications, like co-pay assistance, a representative for the firm noted in an email. "Taking price increases does not directly translate to increased profits for our company," it added. "Most of the increases on our list price, or wholesale acquisition cost is lost through a competitive rebating and contracting process with insurers, pharmacy benefit managers and the government, among others." Discounts and rebates
Drug companies say they must raise prices to fund development of new medicines. #PhRMA, the pharmacy industry's trade group, said the analysis was "flawed and inaccurate," failing to account for the rebates and discounts provided to insurers. .
I call BULLSHIT. 😠😠😠
#BigPharma #TrumpLies #ImpeachTheMF #Obamacare #MedicareForAll #CorruptAf #Republicans #Democrats #Liberals #Progressives #VoteThemOut #Lobbyists #DrugCzar #DonaldTrump