Skyrocketing Generic Drug Prices Cost Taxpayers $1.4 Billion, New Report Finds

WASHINGTON--(ENEWSPF)--December 17, 2015 – Skyrocketing generic drug prices cost taxpayers an additional $1.4 billion over the last decade according to a new report from the Department of Health and Human Services’ inspector general, undertaken at the request of Sen. Bernie Sanders (I-Vt.) and Rep. Elijah Cummings (D-Md.), ranking member of the House Committee on Oversight and Government Reform.

Prices of top-selling generic drugs rose faster than inflation 22 percent of the time over the 10-year study. If a rebate had been applied on generic drugs rising faster than inflation Medicaid would have saved more . . .

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