Drug companies can raise the prices of top drugs by more than six times by repatenting them, with no advancements of any kind made.
Natural Society reports: What happens when mega pharmaceutical companies get their new grip around one of the oldest asthma medications that many rely on for daily use? Based on historical data, it appears that one of the first action items is to exponentially increase the price of the same medication without any actual advancements of any kind. It’s a process that is involved with ‘repatenting.’
The art of repatenting is one that massive corporations absolutely love. When the drug companies own the patent rights to a formula, even if it is virtually the same as a generic one or has been sold for far less over the last several decades, they can charge you (and your insurance company) whatever they want. And in the case of the highly popular asthma drug albuterol, even the New York Times has reported on the absurd price increase following its ‘repatenting