Generic Drugs being sold at Skyrocketing Prices; Senate Investigation on – Maine News Online

Generic Drugs being sold at Skyrocketing Prices; Senate Investigation on

Generic drugs have always been considered the cheap alternative to brand drugs but the senate investigation in this respect has revealed an entirely different picture. They discovered skyrocketing prices of generic drugs, which means that many Americans suffering from diseases that require long-term medication may not be able to afford these lifesaving drugs.

In October, members of Congress questioned 14 manufacturers about the price changes in the last 18 months. This was done considering the fact that since very long patients, as well as pharmacists and physicians, all were complaining about the recent spike in generic drug prices.

Vermont Sen. Bernie Sanders and Maryland Rep. Elijah Cummings on Thursday started an investigation. The Senate subcommittee on primary health and aging had called in a hearing on the matter the same day.

Sanders stated that the federal records show that the average prices of more than 1,200 generic drugs increased by more than 400% from July 2013 to July 2014. These figures mean that one in four Americans cannot afford to buy drugs anymore now.

An example of this is that back in October 2013, two tablets of albuterol sulfate, a drug needed by those who suffer from asthma, were priced at $11. The current price has gone up to $434. Another example is of doxycycline hyclate, an antibiotic. A bottle of this drug was sold for $20 way back in October 2013. But In April 2014, the price of the same bottle has jumped to staggering $1,849.

The list of such examples is never ending.

Sen. Bernie Sanders (I-Vt.), chairman of the Senate Subcommittee on Primary Health and Aging, said, “Drug companies have seen the opportunity to make a whole lot of money and they are seizing that opportunity. This is greed at work in the pharmaceutical industry”.

Generic Drugs being sold at Skyrocketing Prices; Senate Investigation on – Maine News Online

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