Author: Gandalf GreyGandalf Grey Date: Jul 26, 2006 10:07
Gene C. Gerard: 'Prescription politics'
Gene C. Gerard, Dissident Voice
Two recent studies have shown that prescription drug prices rose
significantly during the first quarter of the year. AARP, an advocacy
organization for older Americans, found that the prices charged by
pharmaceutical companies for brand-name drugs increased by almost four
percent. A similar study by Families USA, a healthcare advocacy group, found
a nearly identical increase. Given the vast sums that the pharmaceutical
industry has spent lobbying against price controls, the dramatic increase in
the cost of drugs isn't surprising.
The AARP study determined that brand name drug prices increased at more than
four times the rate of inflation during the first three months of this year.
This was the largest quarterly price hike in six years. Older Americans take
an average of four prescription drugs a month; this increase means that the
cost of these prescriptions rose by almost $240 between the first quarter of
2005 and the first quarter of 2006. The study by Families USA confirmed the
AARP's findings.
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