Study: Drug prices rise twice as fast as expected in a shortage

It's not unexpected for prices to go up during a drug shortage. But during drug shortages in 2016, prices went up—way up—at a rate more than twice what would ordinarily be expected, according to a new study. Specifically, researchers at the University of Pittsburgh and Harvard compared prices for 617 formulations and dosages for 91 medications that went into shortage between December 2015 and December 2016. They found that the expected price increase for drugs within 11 months of a shortage was 16%, compared to about 7% for drugs that were not in a shortage. Price hikes were especially notable for drugs produced by three or fewer suppliers, which increased by about 12% ahead of a shortage and about 24% within 11 months of a shortage.