Reprinted with permission from Creators.
Drugmakers rang in the new year by raising prices on hundreds of products — American prices, that is. Americans focused on the celebrations weren’t paying attention.
Allergan led the parade, hiking its prices by 10 percent on more than two dozen drugs. But note this: It didn’t raise the price of Botox, the anti-wrinkle treatment. Why? Because most users of Botox pay for it out of pocket. They can say, “I’m not bearing the extra freight. I think I’ll go another few months with crow’s-feet.”
Markets in which buyers and sellers haggle can bring reason to prices.…