Brand-Name Drug Prices Up Despite Efforts To Curb Costs
Prices of brand-name drugs increased by 6.9% on average in 2010, the largest increase in more than a decade, and continue to increase despite attempts by the federal government and private health plans to limit drug spending. The price increases could be a result of the drug industry trying to counter government efforts to curb drug spending andÂ to offset declining revenue from blockbuster drugs set to lose patent protection. However, drugmakers say the price increases are misleading because they do not factor in the rebates that health plans and the federal government negotiate with pharmaceutical companies.
- "Drug Prices Rise Despite Calls for Cuts" (Rockoff, Wall Street Journal, 3/17).