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Monday, June 27, 2011

As world diabetes rate doubles, Wal-Mart and K-Mart raise diabetes drug costs

Coincidence between the rapid increase of diabetes and the "discount" pharmaceutical prices? Sounds pretty sleazy.
The number of adults with diabetes in the world has more than doubled since 1980, a study in the Lancet says.

Researchers from Imperial College London and Harvard University in the US analysed data from 2.7m people across the world, using statistical techniques to project a worldwide figure.

They claim the total number of people with diabetes - which can be fatal - has risen from 153m to 347m.
And here's what Wal-Mart and K-Mart have done:
The study also showed that Wal-Mart has raised prices for the 10 most-prescribed diabetes treatments by 32 percent between 2008 and 2010, compared with an average industry-wide increase of 21 percent, which includes chain drugstores, mail-order firms and independent pharmacies.

Kmart, a unit of Sears Holding Corp, raised its prices by 35 percent over the same two-year period, according to the study.

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