Generic drug prices on now jumping on the Obama Care Band Wagon
Some low-cost generic drugs that have helped restrain health care costs for decades are seeing unexpected price spikes of up to 8,000 percent, prompting a backlash from patients, pharmacists and now Washington lawmakers.
A Senate panel met Thursday to scrutinize the recent, unexpected trend among generic medicines, which usually cost 30 to 80 percent less than their branded counterparts.
Experts said there are multiple, often unrelated, forces behind the price hikes, including drug ingredient shortages, industry consolidation and production slowdowns due to manufacturing problems. But the lawmakers convening Thursday�s hearing said the federal government needs to play a bigger role in restraining prices.
�If generic drug prices continue to rise then we are going to have people all over this country who are sick and need medicine and who simply will not be able to buy the medicine they need,� said Vermont Sen. Bernie Sanders, who chairs the Senate Subcommittee on Primary Health and Aging.
Given this WTF can government contribute?
