Healthy Skepticism Library item: 17038

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: Journal Article

Hopkins Tanne J
Extraordinary rises in US drug prices are investigated by government agency
BMJ 2010 Jan 19;
http://www.bmj.com/cgi/content/extract/340/jan19_2/c333

Abstract:

Lack of therapeutically equivalent drugs and limited competition contributed to “extraordinary price increases” in 416 brand name drugs between 2000 and 2008, the US General Accountability Office has reported.

The price increases ranged up to 1000% or more. The drugs involved represented about 0.5% of all brand name drug products.

Separately, AARP, formerly the Association of Retired Persons, which represents people aged over 50, said that the prices of the branded drugs most often used by Americans aged over 65 rose by an average of 9.3% from October 2008 to September 2009, “a period when there was no inflation and, in fact, other consumer prices actually dropped” (http://bulletin.aarp.org/yourhealth/medications/articles/he01_drug_pricing.html).

The association said that drug companies may increase prices in anticipation of changes in regulation as a result of healthcare reform.

It said, “The steepest price hikes were 16.1% for Seroquel [quetiapine fumarate to treat psychosis], 17.2 % for Aricept . . .