'Extraordinary' drug price hikes identified by USA's GAO

A study from the USA's General Accountability Office, the investigational body of Congress, has revealed "extraordinary price increases" for 321 brand-name drugs, with prices jumping by 100% to 499% and, in a few cases, by over 1,000%. The number of drug price hikes more than doubled from 2000 to 2008, with most of these products maintaining their higher prices over time, the report found.

The growing cost of brand-name prescription medicines - Food and Drug Administration-approved drugs that typically have patent protection - is a concern for patients, payers, and providers of health care - particularly when price increases are large and occur suddenly, stated the GAO, whose investigation came after a 2008 congressional hearing by the Joint Economic Committee drew attention to some small market prescription drugs that had seen a price increase of 100% or more at a single point in time. The investigation was called for by Congressmen last November.

The GAO's findings come at a time when the US Senate and House of Representatives are trying to reconcile their respective versions of legislation for reform of the nation's health care system. Some critics say both proposals are too generous to the pharmaceutical industry ' which made a deal with Senate Democrats - and fail to do enough to rein in costs. Lawmakers have also raised concerns that drug companies such as Pfizer and Merck & Co increased some of their drug prices ahead of anticipated reforms.