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December 10, 2009
Democratic lawmakers investigate "price hikes" for brand-name prescription medicines.
The Wall Street Journal (12/9, Burns) reports that a recent AARP study which shows that brand-name prescription medicine prices have risen significantly in the past year has prompted Democratic lawmakers to launch a probe to determine if pharmaceutical companies are engaging in price gouging.
CQ HealthBeat (12/9, Reichard) reports, "Price hikes by" pharmaceutical makers "in anticipation of healthcare overhaul legislation are 'exhibit A' why the Senate healthcare overhaul bill is too weak in protecting seniors and other taxpayers against rising prescription drug costs, Rep. Henry A. Waxman (D-CA) said at a House subcommittee hearing Tuesday." Waxman's statement was based on "an assessment by AARP," which "specifically found that average manufacturer prices for widely used brand-name drugs rose 9.3 percent between October 2008 and September 2009. 'In contrast, prices for common generic drugs declined by 8.7 percent over the same time period,' Bonnie Cramer, AARP's board chairwoman, said in written testimony." But, Richard I. Smith, of PhRMA, "disputed the figures," saying that "eight of the drugs used in the top 25 brands tracked by the AARP report are now sold as generics." Reuters (12/9, Heavey) also covers the story.
Posted by admin at December 10, 2009 05:03 PM