The problem has been increasing this year as drug shortages continue. Normally cheap generic injected medicines have become extremely expensive as drug companies mark up prices to reap a profit from desperate hospitals and healthcare facilities.
The Associated Press reported in mid-Sept. 2011 that at least 15 patient deaths have resulted from the shortages. Sen. Schumer’s bill would make price gouging on prescription drugs already in short supply a federal crime.
Sen. Schumer’s bill will be introduced next week, according to the report. Companies that price gouge scarce drugs would receive penalties of up to $500 million per case of price gouging.
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