Posted by Michael Wonder on 30 Jan 2023
Why drug makers have raised prices on nearly 1,000 drugs so far this year
30 January 2023 - With pharmaceutical companies hiking prices on nearly 1,000 drugs in January, some consumers might experience sticker shock next time they pick up prescriptions.
The price increases come as a new federal law requires companies to pay Medicare a rebate if they increase prices above the rate of inflation. Other Inflation Reduction Act provisions — such as capping Medicare recipients' out of pocket expenses at $2,000 and allowing Medicare to negotiate the costliest drugs — haven't kicked in yet.
