Big Drug Companies Hiked Prices on Popular Medications, Report Finds

Major U.S. drug manufacturers set steep price increases on popular drugs for arthritis, high cholesterol, asthma and other common ailments, according to an analysis of price data.

Reuters reports that the prices for four of the country’s top drugs increased more than 100% since 2011, while six other went up more than 50%. The issue of rising drug prices got new attention recently when Turing Pharmaceuticals was widely criticized for raising the price of Daraprim, a medication used for a rare infection, some 5,000%.

The new analysis, based on 2014 sales figures and pricing data, was presented to the eight companies that sell the top 10 drugs, and Reuters reports that none contested the findings. However, drug companies said prices may be set high to recoup investments in failed drugs and to support research and development of new treatments.

[Reuters]