Pharmaceutical Companies Hike Prescription Prices 76% Since 2010
Submitted by IWB, on October 7th, 2015
Pharmaceutical companies have been raising the price of prescription drugs at an alarming rate since 2010.
According to a new report from The Wall Street Journal, the 30 highest-selling drugs in the United States saw their prices increase roughly 76% from 2010 through 2014.
And the pharmaceutical companies behind these price boosts are seeing huge revenue increases. The report shows that these big pharma companies have seen revenue increase an average of 61% from those top 30 drugs. During the same time frame, the number of prescriptions filled climbed just 20%.
A similar report from Credit Suisse in May showed that the 20 leading global pharmaceutical companies saw roughly 80% of their profit growth from drug price increases.