Drug companies increased prices faster than inflation for 48 drugs, owe Medicare refundsDozens of drug companies raised prices at a higher rate than inflation and will need to pay rebates to Medicare, the U.S. Department of Health and Human Services announced Thursday. The refunds are due under a provision of the Inflation Reduction Act, which penalizes companies for outpacing inflation with their pricing.
“In the year before we passed this legislation, drugmakers jacked up prices nearly four times faster than inflation went up – and they were already too high,” President Joe Biden said, speaking on his administration’s announcement at a lab at the National Institutes of Health in Bethesda, Maryland on Thursday. “Let's call this for what it is, it's a ripoff.” ...............
https://mynews13.com/fl/orlando/health-and-medicine/2023/12/13/drug-companies-increased-prices-faster-than-inflation-for-48-drugs--owe-medicare-refunds
