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ITEM: "Prescription drug costs in the United States are skyrocketing," writes William Novelli, the executive director of the American Association of Retired Persons in the AARP Bulletin for July-August 2002. AARP, he says, "is working hard to solve the problem" - with legislation and litigation. "We are lobbying hard for drug coverage in Medicare...." Moreover, "we are also going to court to break anti-competitive practices that delay or prevent lower-priced generic drugs from reaching the market and bringing down high drug costs."
CORRECTION: While overall drug spending did rise by 13.6 percent in 2000, the average price of drugs only went up by 3.9 percent, comparable to overall increases elsewhere, as noted by Lawrence Reed, president of the Mackinac Center for Public Policy. When research and development time is taken into account, pharmaceutical profits ...
Source: HighBeam Research, Prescribing away drug R and D. (Correction, Please!).(Brief...