Big Pharma jacked up drug prices 1,186 times this year

(CHILDREN’S HEALTH DEFENSE) – The U.S. pharmaceutical industry exercised its virtually unlimited pricing power to hike costs for patients again this month as Senate Democrats made progress toward a limited deal to regulate out-of-control prescription drug prices, which are forcing millions of people to ration their medication or go without it entirely.

A new analysis released Tuesday by Patients for Affordable Drugs estimates that pharmaceutical companies in the U.S. have raised drug prices 1,186 times so far this year, further padding their bottom lines while intensifying the already overwhelming cost burden for patients.

Patients for Affordable Drugs found that between June 24 and July 5, pharmaceutical companies increased prices for 133 products. Pfizer, for instance, hiked the cost of its leukemia medication Besponsa again this month, bringing its per-vial price tag to $21,056.