Millionaire raised the price of widely-used drugs by 1,000%

Millionaire who raised the price of widely-used drugs by 1,000% over two years says: ‘I don’t have to justify my profits to anyone’. 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.

Millionaire  raised the price of widely-used drugs by 1,000%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.

One of the medicines under the spotlight after a huge unexplained price increase is hydrocortisone tablets – a daily lifesaver for thousands of kidney patients.

In June 2008, the cost to the NHS of a packet of 10mg pills was £5. Today, the NHS is paying £44.40 for the same course. read more

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