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What We're Reading: Continued Drug Pricing Scrutiny
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What we're reading, December 7, 2015: Mylan is subpoenaed over pricing of generic doxycycline antibiotic products; Congressional hearing this week on drug pricing controversy; new superbug on the rise; and Obamacare penalty for being uninsured may not be enough to get people to sign up.
Mylan is the latest company to face federal scrutiny over drug pricing. The Department of Justice has subpoenaed the company in regards to the pricing and marketing of its generic doxycycline antibiotic products, according to Reuters. The decades-old antibiotic is used to treat acne, pneumonia, Lyme disease, chlamydia, syphilis, and more.
Soaring drug prices continue to dominate the news with a Congressional hearing this week that will focus on the price hikes for several medicines. The Senate Special Committee on Aging has been investigating the new tactic of companies to purchase drugs already on the market and then raise the price, reported The Wall Street Journal.
The US is also facing the rise of a dangerous superbug that has been dubbed “phantom menace.” The superbug belongs to a family of bacteria known as CRE, which is often resistant to most antibiotics and often deadly, too, The Washington Post reported. Up to half of patients who become infected die from the bacteria.
Lastly, the penalty for remaining uninsured will increase a third and final time, but critics claim the penalty still won’t be enough to prod millions of Americans to purchase health coverage, according to a report from the Washington Examiner. The fine in 2016 will be $695 or 2.5% of taxable income, whichever is greater.
