Ten times the rate of inflation. That’s how much prices for many of the most popular brand-named drugs for seniors have increased by over the last 5 yrs, according to a congressional report issued by my Senate colleague Claire McCaskill (@clairecmc) of MOhttps://www.cnn.com/2018/03/26/health/report-medicare-drug-prices-soaring/index.html …
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The report also finds that, between 2012 and 2017, the price of 12 of the 20 most commonly prescribed brand-name drugs for seniors jumped by over 50 percent. And during that same time period, sales revenue for those 20 drugs increased by nearly $8.5 billion.
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These soaring prices are great for the bottom lines of drug companies, but they’re squeezing Minnesotans who are already struggling to pay for the medications they need.
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My first piece of legislation is aimed at lowering the price of Rx drugs. It would help tackle high prescription drug prices by addressing an anti-competitive loophole that big pharma companies exploit in order to force Americans into buying overpriced drugs.
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This is just the beginning of my fight to address prescription drug prices. Too many big pharma companies are putting corporate profits ahead of families, and the amount of $$$ Minnesotans are paying for their medications is out of control. https://www.facebook.com/USSenTinaSmith/posts/618646025148495 …
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