Without any fanfare, pharmaceutical companies have been raising the prices of many of their drugs by 100 percent or more, according to a study conducted by researchers from the University of Minnesota.
The researchers investigated cases in which drugs had their prices increased by 100 percent or more in a single cost adjustment, finding that drug companies had done so for 26 products in 2006.
Questcor Pharmaceuticals, for example, increased the price of its drug Acthar (used to treat spasms in infants) by 1,424 percent, from $1,650 per vial to a whopping $23,000.
The practice seems to be getting more common. In 2004, only 15 drugs had their prices so drastically increased. By only the first half of 2008, however, already the prices of 17 drugs had at least doubled.
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