Dr. Susan Berry
February 1, 2014
The pervasive use of generic over brand-name medications was anticipated to be a money-saver, but recently prices are soaring, even up 6,000 percent for some common drugs that were once fairly low-cost.
As National Journal reports, pharmacists are perplexed about the huge price hikes in many drugs and are asking Congress to hold a hearing to look into the matter.
Generic drugs such as Pravastatin, which treats high cholesterol, and the antibiotic Doxycycline spiked upwards of 1,000 percent in 2013, according to a survey by the National Community Pharmacists Association.
According to the survey, 77 percent of pharmacists said they experienced 26 or more instances of a large increase in the acquisition price of a generic drug within the last six months of 2013.