Wednesday, April 15, 2015

Sen. Bernie Sanders (I-VT) To Look Into Generics' Price Spiral, As US Spend Nears $375 Billion -- On Meds

I do think there is quite a bit of good data to support the notion that US health care reform, in the main, has been a friend to pharma companies. While the increase in spending is mostly due to the emergence of astonishingly effective new drugs like Sovaldi (think ultra high prices -- for cures), it is also being fueled by steep price increases in many standard generic drugs, as well.

Adding to that, though, is the data which suggests many more Americans are able to get their hands on at least some medications, under the "affordability" provisions of the ACA of 2010. It all adds up to a robust 13 per cent ramp up in prescription spending nationwide. Here's a bit from the Chicago Tribune:

. . . .Spending on prescription drugs soared last year, driven up primarily by costly breakthrough medicines, manufacturer price hikes and a surge from millions of people newly insured due to the Affordable Care Act. Spending rose 13 percent, the biggest jump since 2001. . . .

Here is a link to the earlier item on Senator Sanders' look at generic pricing, as well. Onward -- but good news for Merck -- a rising tide lifts all ships. . .

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