Posted by Michael Wonder on 20 Sep 2016
Drug firms will be barred from extortionately raising NHS drug prices as Jeremy Hunt acts to close loophole
16 September 2016 - NHS loophole allows companies to drop brand name and bump up price.
The Daily Mail states that pharmaceutical companies in the UK will soon be barred from raising the prices of common drugs needed by the NHS as Health Secretary Jeremy Hunt announces plans to close the loophole.
Some businesses have been accused of hiking the price of common drugs up by over 12,00 per cent, helping them rake in more than £200million a year.
The companies have been allowed to charge 'extortionate' prices by simply dropping the brand name and using a generic name instead, allowing them to legally bypass the NHS' pricing cap rules.
