Study: Price hikes for half of Medicare-covered drugs exceed inflation
Drug companies raised prices faster than inflation for about half of all drugs covered by Medicare between July 2019 and July 2020, according to an analysis released last week by the Kaiser Family Foundation. The median price increase was 5.6% for drugs covered by Medicare Part D and 5.4% for drugs covered by Part B, compared with a 1% inflation rate over the period. According to the Campaign for Sustainable Rx Pricing, whose founding members include the AHA, leading drug companies also reported massive profits in fourth-quarter 2021.
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