Happy New Year
Court orders mortgage relief fraudsters to pay $18.5 million

Pharmaceutical companies raise the prices of more than 250 drugs as of Jan. 1

Drugs Money Pills 2 IMG_9751_2Big pharmaceutical corporations, including Gilead, Pfizer, and GlaxoSmithKline, have hiked the prices of more than 250 prescription drugs as of Jan. 1. Annual and biannual price increases on existing medicines have become a standard practice of brand-name pharma corporations, said Steven Knievel, access to medicines advocate for Public Citizen, a consumer advocacy group.

It’s a new decade, but it’s business as usual for prescription drug corporations, Knievel said.

“Tweets and half-baked proposals from President Donald Trump are not stopping Big Pharma from price gouging consumers,” he said.

Knievel said if Trump was serious about lowering drug prices, he could do so with the stroke of a pen and authorize competition. Congressional lawmakers have proposed a number of measures that would deliver relief. However, Senate Majority Leader Mitch McConnell, R-Kentucky, won’t bring them to a vote, and Trump said he’ll veto the most effective legislation to be passed out of the House, H.R. 3.

“The time to act is now,” Knievel said. “Patients do not have another decade to wait.”

Copyright 2020, Rita R. Robison, Consumer and Personal Finance Journalist

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)