Big Pharma jacked up drug prices over 1,000 times this year

Thursday, 21 July 2022newsdesk

The US pharmaceutical industry has raised drug prices some 1,186 times this year, according to Patients for Affordable Drugs, an advocacy group seeking to rein in the sky-high cost of prescription drugs. The group published their analysis on Wednesday.

New Delhi, 21 July 2022

As per news report of Rt.com, despite record profits, pharmaceutical companies jacked up the prices on 133 products between June 24 and July 5 alone, the group found, noting that the median price increase for 2022 was 5%. In July alone, 64 drug companies hiked their prices, according to Patients for Affordable Drugs. Companies like Pfizer, who have made unprecedented profits on their Covid-19 vaccine, have nevertheless continued increasing their prices on other drugs. Pfizer’s leukemia medicine, Besponsa, for example, has seen four price hikes since the pandemic began and now retails at $21,056 for a single vial.

Source - Rt.com