Drugs Firms Accused Of Profiteering By Raising Prices By One Thousand Percent

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Jul 20, 2010, 8:22:59 PM7/20/10

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Drugs Firms Accused Of Profiteering By Raising Prices By One Thousand Percent
Drugs companies making everyday medicines for the NHS are facing claims of profiteering after imposing huge price rises for commonly prescribed drugs. The increases – some as high as 1,000 per cent in just two years – coincided with some of the firms involved earning massive profits. One company boss said the NHS ‘doesn’t care what it costs’. The medicines are not new innovative products developed by pharmaceutical companies after enormous investment in research and development. Instead, they are unbranded so-called ‘generic’ drugs which have been available for many years and include commonly used antibiotics prescribed to millions of patients. Last night, The Mail on Sunday investigation prompted the Department of Health to reveal it had launched a review of the price increases and to say that it was examining what action could be taken against manufacturers deemed to be making excess profits