Generic drug price hikes move Congress to consider consumer relief measures
- The costs of generic drugs has risen dramatically. At the high end, some drugs have risen by 500%. Overall, 50% of generic drugs have risen in price, including 10% with prices that have doubled.
- Senator Bernie Sanders of Vermont and Elijah Cummings of Maryland have started to address the issue in Congress.
- Ralph Neas, President of the Generic Pharmaceutical Association, feels that Congress is overstating rising generic drug costs.
In response to rising generic drug costs, many consumers are starting to look at mail order options from abroad, as well as going to Canada for lower cost generics. Because of pressure, some states are supporting these efforts--and there may be federal support as well. Executives were unwilling or unable to explain drug price increases.