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Drug makers raise prices as DOP seek to lower them

May 23, 2019 - 4:00 am

KYW Newsradio’s Medical Reports are sponsored by Independence Blue Cross. 

​​​​By Dr. Brian McDonough, Medical Editor

PHILADELPHIA (KYW Newsradio) — Bad news for consumers of health related products.

According to a new study, the price of more than 500 drugs increased at the beginning of 2019. Surprisingly even the prices of generic drugs increased about 3%.

The greatest increase was the first week of January — apparently drug makers often raise their prices during this period of time.

However, this year was much higher than other years and impacting more drugs.

All of this comes on the heels of the Department of Health and Human Services stating they're going to make a concerted effort to lower drug prices as a key initiative in the next twelve months.

Large cities bear most of the burden with major cities playing 17% more than the national average.