Even as drug makers promise to support Washington’s health care overhaul by shaving $8 billion a year off the nation’s drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years.
A Harvard health economist, Joseph P. Newhouse, said he found a similar pattern of unusual price increases after Congress added drug benefits to Medicare a few years ago, giving tens of millions of older Americans federally subsidized drug insurance. Just as the program was taking effect in 2006, the drug industry raised prices by the widest margin in a half-dozen years.
“They try to maximize their profits,” Mr. Newhouse said.
The North Dakota supreme court revived the state’s abortion ban on Friday, once again making it...
Cases of infant botulism tied to the ByHeart infant formula recall have nearly tripled across 15...
A federal judge officially approved drug maker Purdue Pharma’s latest deal to settle thousands of lawsuits...
