A recent report by Investor’s Business Daily spotlights how pharmaceutical companies put a price tag on their drugs.
According to the report, drugmakers in the first half of this year rolled out price increases on 3,400 drugs by an average of 10.5 percent, five times the rate of inflation.
“Drug prices are just the most visible part of multiple different broken systems in health care,” Stanford University Graduate School of Business Professor of Medicine and Economics Kevin Schulman said. “Unfortunately, what we have in health care is, across the board, these incredibly nontransparent markets that are designed that way. Because no one in their right mind would agree to the way we pay for drugs, medical care or surgical care and the prices that are being charged.”
To read the full report, click here.