The cost of health care does not serve the only sticker shock in the medical industry - some generic drugs have recently seen price increases of over 1,000 percent, according to a recent article in The New York Times.
Digoxin, a generic heart medicine prescribed for over 200 years, has seen its prices tripled over the last 10 months alone, with some patients now encountering costs of more than $1,000 plus hundreds of dollars in co-pays.
There has been no shortage of the drug to explain the increase in cost, according to the Food and Drug Administration. Digoxin is not hard to make and there have been no new patents or formulations. The only factor affecting the cost are company strategies intended to reap the benefits of selling an ancient, lifesaving drug.
In January, the National Community Pharmacists Association called for a congressional hearing on generic drug prices, complaining that those for many essential medicines grew as much as "600, 1,000 percent or more" in recent years. The price jumps especially affect smaller pharmacies who are unable to bargain for discounts.
One of the major fears of these steep price increases is that patients will stop filling prescriptions altogether for these drugs that are potentially saving their lives. Read the full article here:
Rapid Price Increases for Some Generic Drugs Catch Users by Surprise
Cost motivates many decisions; however, it is particularly disturbing to see the cost of medicines raised for no good reason and then see people not get the treatment they need.
If you or anyone in your family has suffered serious side effects or damages from a medication error you should seek legal investigation immediately. Crandall & Pera Law is available to help answer your questions and guide you in determining your next steps.