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Prescription drug prices hiked in the US

Around 30 drug-makers have decided to raise the prices of the medicines under their brands in this month. This will break the halt to the price hike declared by a pharmaceutical industry after it was pressurized by the US President Donald Trump. In response to the hike, Donald Trump has criticized the drug-makers.

The hike is about to pose a new challenge to the pledge taken by the US President to decline the price of the prescribed medicines within the most expensive pharmaceutical market in the world. In fact, the Department of Health and Human Services has offered a slew of policies that focus to deplete the prices while imposing more discounts to the patients through the insurances. These measures don’t have the potential to relieve the patients in the short term and will also fall short of offering the health agencies, from the government, the authority to regulate the prices of the prescribed drugs. As per the law, the pharmaceutical companies that are planning to hike the prices of the drugs either by 16% or more over a period of 2 years; they will have to send a notification to the payers in California. The Reuters received the details of the price hike against the California Correctional Health Care Services’ public records. This organization takes care of the healthcare services to the correction departments of the state.

The Californian agencies have received notice from none less than 28 drug-makers stating that they have planned to raise the price of the drugs in two months.

The Chief Executive of RX Savings Solutions, Michael Rea stated that the public shaming and requests have not contributed to depleting the prices of the drugs. He has further expressed his concern regarding the rise in 2019, which is expected to be more than the previous years.

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Alice Martin

Having done MBA in Finance and with over one decade of experience in the field of business, Alice leaves no chance to use his expertise when it comes to Business section. She makes sure that Business news is up-to-date with correct numbers and figures. In her leisure time, Alice loves to play and watch movies with her two-year-old son.

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