Drug Companies Start 2019 With Price Hikes | NBC Nightly News

bitter pills this new year for Americans taking prescription drugs 60 companies raised prices on almost 300 drugs in the first two days of the year including Humera armor thyroid and oxycontin price tracking firm rx savings solution says the average hike is six point three percent nearly three times the rate of inflation drug companies raise prices simply because they can for David Mitchell the outrage is personal and professional Mitchell needs almost three hundred thousand dollars worth of Medicine a year to stave off the blood cancer multiple myeloma and he leads patients for affordable drugs fighting high prices pain of high drug prices does not know a party it does not know a region people are hurting and they want the elected officials in this country to make changes to get this drug pricing situation under control today President Trump promised action soon we’ve gone through a big process and I think you’re gonna see a tremendous reduction in drug prices it worked last summer when Pfizer and other manufacturers delayed price increases at the president’s urging until this month the industry trade group says spending on medicine is increasing at its slowest rate in years what is actually paid for a medicine the net price of the medicine and there’s actually much lower than the initial list price because of the discounts and rebates negotiated in the marketplace Lester we reached out to some of the largest manufacturers and the industry trade group and none of them gave a specific reason for the price hikes instead emphasizing that consumers will get discounts and rebates but exactly how much depends on your insurance and if you have insurance at all hey NBC News fans thanks for checking out our youtube channel subscribe by clicking on that button down here and click on any of the videos over here to watch the latest interviews show highlights and digital exclusives thanks for watching

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