Drug Makers Jacking Up Prices Like Credit Card Companies

Drug makers and credit card companies are rushing to take advantage of last minute profits before tighter regulations are in place. Credit card companies have increased interest rates and added annual fees. I canceled two cards because they began charging an annual fee. I refuse to pay for a credit card.
The best way to beat these businesses is to 1) stay out of debt and 2) take care of your health. And don't fall for all those stupid commercials about drugs that will make you happy, help you pee less.... Good grief.

n the last year, the industry has raised the wholesale prices of brand-name prescription drugs by about 9 percent, according to industry analysts. That will add more than $10 billion to the nation’s drug bill, which is on track to exceed $300 billion this year. By at least one analysis, it is the highest annual rate of inflation for drug prices since 1992.

The drug trend is distinctly at odds with the direction of the Consumer Price Index, which has fallen by 1.3 percent in the last year.

Drug makers say they have valid business reasons for the price increases. Critics say the industry is trying to establish a higher price base before Congress passes legislation that tries to curb drug spending in coming years. NYT

Drug companies deny it:

“Price adjustments for our products have no connection to health care reform,” said Ron Rogers, a spokesman for Merck, which raised its prices about 8.9 percent in the last year, according to a stock analyst’s report.