How to combat soaring drug prices

Published November 27, 2016 5:01am ET



It’s no secret that drug costs have been steadily increasing year by year. From 2014 to 2015, overall drug spending increased 12 percent, the highest rate of increase in more than a decade. It’s not just specialty drugs increasing in price: Older generic drugs are becoming more expensive and scarce. At least 315 generics have doubled in price since 2012, many of which lack market competition.

Drugs have been carrying alarming costs, and health plans are increasingly asking people to shoulder a share of the price. These costs are well on their way to making healthcare unaffordable again.

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