Drug Makers Raise Prices In Face of Health Care Reform

Drug Makers Raise Prices In Face of Health Care Reform

www.nytimes.com

Even as drug makers promise to support Washington’s health care overhaul by shaving $8 billion a year off the nation’s drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years.

Stephen W. Schondelmeyer, a pharmaceutical economics professor at the University of Minnesota, said, “When we have major legislation anticipated, we see a run-up in price increases.”

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We in the United States already pay the highest price for prescription drugs of anyone in the world.

I was aware President Obama made a deal with Big Pharma for billions of dollars worth of cuts last summer. I didn't trust the drug makers then, and I wondered why Obama did that, and I see now I was right.

All the drug makers are doing is jacking up the prices of everything so when they make the "cuts" they'll still be getting what they did before the deal. Meantime they'll be gouging the health care system with their prices.

Maybe this is a last-ditch effort on the part of Big Pharma to dissuade people from supporting health care reform.

I'm not sure what Congress or the president can do to stop them from raising their prices. The drug makers clearly don't care what they do to the American people as long as they continue to get their fat profits.

You can't trust Big Pharma or Big Insurance any further than you can throw them.



www.nytimes.com
(visit the link for the full news article)