A Senate committee this week put the spotlight on the wave of increases in the cost of medications. While those truly innovative medicines that save lives and ease suffering are certainly valued by all, the committee’s hearing focused on some of the more troubling of the pharmaceutical industry’s tactics in suddenly jacking up the prices of off-patent drugs. Tactics like Canadian-based Valeant’s purchase earlier this year of the rights to a pair of life-saving heart medications, isoproterenol and nitroprusside. A day following the acquisition, nitroprusside’s price rose from $215 to about $650, and isoproterenol went from $440 to about $2,700. It’s a disturbing example of how pharmaceutical companies are buying drugs they say are undervalued, then jacking up the prices. It is one of several practices, along with companies hiking prices on older drugs and launching newer treatments at previously unheard of prices, driving up the cost of prescription drugs overall. It’s straining hospital budgets and squeezing patients. The AHA supports the Campaign for Sustainable Rx Pricing and will continue to push back on the issue of escalating drug costs.

Related News Articles

Headline
List prices for branded pharmaceutical products in the United States increased 159% between 2007 and 2018, an average of 9.1% per year, according to a study…
Headline
Four drugs used in hospitals for years increased their prices between 525% and 1,644% after receiving formal approval through the Food and Drug Administration’…
Headline
The Food and Drug Administration today approved the first generic albuterol sulfate inhaler to treat and prevent bronchospasms in patients with asthma or…
Headline
The Food and Drug Administration today released the first phase of its searchable Purple Book database, which includes all FDA-approved biosimilar and…
Headline
The House Ways and Means Health Subcommittee yesterday held a hearing on proposals to lower drug prices and promote new cures.  Witness Ge Bai, an…
Headline
The Campaign for Sustainable Rx Pricing today launched an ad campaign calling for Congress to pass bipartisan legislation to “hold Big Pharma accountable…