Prescription drug prices are expected to spike again, especially among some generic medications, following last year’s swift increase.
Even among generic medications, prices have risen several hundred percentage points, increasing the burden for consumers who are already saddled with higher healthcare costs and other debt. The rapid increase has been a surprise even to some pharmacists, prompting the Senate Subcommittee on Primary Health and Aging to look into the issue last November. Hillary Clinton has even made the fight for cheaper drugs a significant campaign issue. While the price to produce drugs could have some effect, the fact that the number of competitors has lessened due to mergers and acquisitions could be a larger contributor.Read more