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Even older drugs are getting steep price hikes, study finds

Stuart Schweitzer, professor of health policy and management at the UCLA Fielding School of Public Health, was quoted in a HealthDay article about a new study describing increases in prescription drug prices.

Tuesday, January 8, 2019

It's a common belief that rising drug prices are due to the high cost of cutting-edge medications, with manufacturers charging a bundle to make back development expenses for their new products.

But drug companies have also been steadily hiking prices on older brand-name drugs, a new study reports.

Increasing prices for brand-name pills outpaced the nation's overall rate of inflation nearly fivefold between 2005 and 2016, with consumers paying about 9 percent more every year for the same old drugs between 2005 and 2016.