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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Knighty Tin who wrote (42431)	12/8/2005 3:06:00 PM
From: mishedlo	Read Replies (2) of 116555

Arizona sues drugmakers Attorney general: Price hikes 'a fraud' The Arizona Republic Dec. 8, 2005 12:00 AM State Attorney General Terry Goddard filed a suit Wednesday against 42 drug companies he claims have cheated Arizona consumers and Medicare out of tens of millions of dollars through inflated drug prices.... Goddard said the drug companies have inflated or misstated the average wholesale price of their prescription drugs, listing prices much higher than what they actually charge some doctors or pharmacies....... For instance, Goddard says, Abbott Laboratories Inc. lists a price of $382.14 for a 1-gram vial of the antibiotic vancomycin, which is used for severe infections. But the providers, the doctors and pharmacies, are charged only $4.98 for the drug, leaving a profit of $377.16, or 7,547 percent. Some drug firms sell the salt solution sodium chloride to pharmacies and physicians for about $4, with the average wholesale price listed at about $670. azcentral.com

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