The problem has been increasing this year as drug shortages continue. Normally cheap generic injected medicines have become extremely expensive as drug companies mark up prices to reap a profit from desperate hospitals and healthcare facilities.
The Associated Press reported in mid-Sept. 2011 that at least 15 patient deaths have resulted from the shortages. Sen. Schumer’s bill would make price gouging on prescription drugs already in short supply a federal crime.
Sen. Schumer’s bill will be introduced next week, according to the report. Companies that price gouge scarce drugs would receive penalties of up to $500 million per case of price gouging.
Related Articles on Drug Shortages:
AMA Adopts Policy to Address Drug Shortages
Obama to Sign Executive Order Instructing FDA to Act on Drug Shortages
8 Steps to Ensuring Safe, Reliable Medication Purchases During Drug Shortages
