Study found drug prices soar after drug shortages hit

Researchers at the University of Pittsburgh and Harvard Medical School found drug prices increased at roughly twice their usual rate after shortages developed suggesting that pharmaceutical companies may be reaping additional profits when urgently needed medicines become scarce. The researchers examined the prices of 617 dosages and formulations of 90 different drugs that went in short supply between December 2015 and December 2016 and found that prices rose a cumulative 16 percent, on average, in the 11 months after the shortage began compared with 7.3 percent in the prior 11 months. Read article here…

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