2019 drug price hikes running 5 times the rate of inflation

Pharmaceutical companies have raised the prices of 3,400 drugs this year, 17 percent more than during the same period last year, according to a new Rx Savings Solutions analysis cited by CBS News. 

Four more things to know:

1. The average price increase of the drugs that have gone up in price is 10.5 percent, about five times the rate of inflation. 

2. The prices of 41 drugs  have been raised more than 100 percent this year.

3. Some of the largest price hikes  this year have been for the antidepressant Prozac (879 percent increase); steroid topical cream mometasone (381 percent hike); and pain reliever and cough medicine promethazine/codeine (326 percent increase.)

4. The drug hikes come as lawmakers and the Trump administration work to address the problem of rising prescription drug costs in the U.S.

Read the full report here. 

More articles on pharmacy:
Walmart cutting some pharmacy jobs
UPMC acquires community pharmacy in Pittsburgh
Oklahoma judge approves Teva's $85M opioid settlement

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months