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IcyPeas

(25,166 posts)
8. pharmaceutical companies absolutely SUCK
Tue May 26, 2015, 06:17 PM
May 2015

I heard this on NPR the other day. Here is the article about the costs spiraling of MS (and other) drugs. (bolding mine)

Drug companies are acting much like a cartel such as OPEC, says Stephen Schondelmeyer, a pharmaceutical economist at the University of Minnesota. He says the companies must figure "if we all keep moving [our prices] up and nobody moves down, we can get away with raising the price, because if a person has multiple sclerosis, what other choice do they have?"


A recent study from Oregon State University and the Oregon Health and Science University finds that the cost for MS drugs averages $60,000 a year, compared to $8,000 to $11,000 a year in the 1990s. The price for some climbed by an average of 30 percent per year for two decades, according to the report in the journal Neurology.


The drug industry remains one of the most profitable businesses on the planet, but Reilly argues that the high prices are justified.


http://www.npr.org/sections/health-shots/2015/05/25/408021704/multiple-sclerosis-patients-stressed-out-by-soaring-drug-costs

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