Wonder Why the Price of Some Generics Are So High?

May 15, 2017

Recent investigations reveal major price fixing in the generic drug sector, drastically increasing costs to consumers looking to save money.
This past January, Jeffrey Glazer, the CEO of Heritage Pharmaceuticals, a subsidiary of Indian drug company Emcure Pharmaceuticals, pleaded guilty to violating US antitrust law by conspiring with manufacturers to fix the prices of generic drugs. Glazer is reportedly cooperating with federal prosecutors, which might implicate Emcure’s CEO, Satish Mehta, in the price fixing scheme.
Heritage Pharmaceutical allegedly coordinated with its major competitors to hike the price of glyburide, a diabetes medication, by 200%.
The generics business is, of course, supposed to save consumers money by cutting prices of expensive patent medications. Generics save consumers an estimated $227 billion each year. But stories like this suggest that the generics business is not immune to the same market-fixing inclinations as their colleagues in the patent pharmaceutical sector.
Read the full story here.
 

Other articles in this week’s Pulse of Natural Health:

Congress to FDA: Cut It Out!
Trump Changes School Lunch Rules—While Maintaining the Current Crony System
Antidepressants in Pregnancy Tied to Autism

7 responses to “Wonder Why the Price of Some Generics Are So High?”

  1. Cathy Koch says:

    I have taken Effexor (generic) for years, the price has always been $7.00 or less a month. This year it went up to $47.00, the only drug that works for me, how can I afford this on a fixed income? No raises in SS, but everything is going up, what are we supposed to do?

    • Jane domes says:

      Be careful if you ever stop.I lost my insurance once and went totally off of it.Was’nt a pleasant feeling experience.

    • disqus_k3oycamN0W says:

      Detox from this harmful drug. It doesn’t heal, it destroys your own ability to produce serotonine, while keeping you under low grade sedation. Thus withdrawal syndrome when sedation stops and you feel how damaged neurons misfire and can not produce enough serotonin to communicate.

  2. rightsmite says:

    The drug. companies in America are charging more for All drugs since OBAMA was in office and OBAMA attempted to stop Americans from buying drugs from Canada which proves the drug companies were paying him off as well. Many commonly prescribed generics are ridiculously priced. Especially the ones that are most prescribed for seniors. The Federal government needs to step in and stop the fraud and corruption and price gouging by the pharmaceutical industry. We pay more for drugs in this country than any place in the world. By the way, it’s not just the drug. companies robbing people , its pharmacies also.

    • Jerry Schull says:

      News flash.. Obama is not in office. Trump is.

      • rightsmite says:

        This crap started because of Obama’s policies. You Libs blamed Bush for everything the entire time OBAMA was in office. You can never take the blame for anything. It’s always someone else’s fault.

      • disqus_k3oycamN0W says:

        Can Trump fight pharma conglomerates that fattened and merged with political mafia while Clinton, Bush and Obama were in office? (Actually the story goes 100 years back, but accelerated when nazy pharma companies, such as Merck, infiltrated US). Obama is up to his ears in pharma collusion.

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