A new year often means new prices for pharmaceuticals, and several companies have imposed price hikes just shy of 10 percent on numerous drugs, a move that appears designed to avoid withering scrutiny of companies that take double-digit increases.
One notable example is Allergan, which last year attempted to single-handedly staunch criticism of the pharmaceutical industry by issuing a “social contract” in which it promised to avoid “price gouging” and limit price hikes to single-digit percentage increases.
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May I observe under ‘the rule of 5’s,’ those increases count as 10 pct? Even the 9.5 percent one? Not that anyone will care of course…..
I would have much preferred 9.9999 percent. As any math student knows 9.9999 is a non-zero repeating infinitesimal that will never get to 10. Time for our critics to bone up on their irrationals.