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Senate attacks drug distributors for price gouging
July 25th, 2012
06:05 PM ET

Senate attacks drug distributors for price gouging

The Senate Commerce Committee bashed drug distributors for up-charging patients at a hearing Wednesday about the “grey-market” for short-supply drugs.

The “grey market” is the second-hand market, where drugs, frequently in short supply, are re-distributed and sold by various distributors and wholesalers.

It’s an already dire situation for many patients in need. According to the U.S. Food and Drug Administration, drug shortages have increased nearly 300% since 2005. Many of the drugs on this list are cancer treatments. The “grey market” only exacerbates the price and the shortage issue.

Drug distributors "are profiteers, people who exploit the misery of sick patients to make a quick buck," said committee chairman Sen. Jay Rockefeller (D- West Virginia).
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