| WASHINGTON, DC — In response to the news that drugmakers raised the prices of more than 250 drugs on Jan. 1, Ben Wakana, Executive Director of Patients For Affordable Drugs, issued the following statement:
“Big Pharma can’t break its addiction to price increases. Widespread price hikes to start the new year show why we can’t rely on drug corporations to exercise self-restraint; we need to enact laws to stop them. There are bills in Congress to stop price gouging. It’s time to pass them and bring relief to the American people.”
BACKGROUND
- According to an analysis by 3 Axis Advisors, drugmakers hiked prices on more than 250 drugs in the United States on January 1, 2020.
- CNBC: “The price increases bring the total New Year’s Day drug price hikes to more than 250.”
- The 2020 hikes follow thousands of 2019 drug price hikes at an average of 10.5 percent — five times the rate of inflation.
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