No Free Lunch, No Free Drugs
Prescription drug prices are rising at twice the rate of inflation. So says a 2012 report from the Bureau of Economic Analysis. While the cost of lab tests, doctor visits, non prescription drugs , etc. all increased less than last year’s overall 1.7% inflation rate, prescription drugs rose 3.6%.
Big Pharma is now a $310 billion dollar industry. Heavily advertised brand name drugs made up a huge percentage of runaway drug costs in 2012, including the following, as reported in USA Today:
Nexium– a 7.8% price hike to a $262 average prescription cost,
Crestor– a 9.7% price hike to a $193 average prescription cost,
Abilify– a 10.4% price hike to a $642 average prescription cost,
The USA Today article concludes with the author proposing that “most consumers are protected from rising drug prices”, –presumably through insurance and medicare. Aah, the free lunch!
Who do they think bears the cost of insurance and medicare? There is no free lunch.
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