Drug companies under fire for price increases

Pharmaceutical companies continue to raise the prices of prescription drugs at rates higher than inflation, according to two separate reports released this month. One report produced by researchers from Pharmacy Benefits Consultants found that drugmakers have raised the prices of 39 drugs by at least 100 percent from January 2017 to March 2018, including 20 drugs that saw price hikes of more than 200 percent.

A separate report released by Sen. Claire McCaskill (D-Mo.) found that prices of the 20 brand-name drugs most commonly prescribed to senior residents increased by an average of 12 percent annually from 2012 to 2017, which is approximately ten times higher than the average annual rate of inflation.