A US Senate panel convened on Thursday to discuss price rises in generic medicines, which usually cost 30 to 80 per cent less than their branded counterparts.

The hearing was sparked by the National Community Pharmacists Association, which said that pharmacies were being squeezed by rises of up to 8,000 per cent.

“If generic drugs continue to rise we are going to have people who simply will not be able to buy medicine they need,” warned Vermont independent Senator Bernie Sanders, who chairs the Senate subcommittee on primary health.

Mr Sanders has introduced a Bill requiring generic drugmakers to pay rebates to the national Medicare and Medicaid programmes when prices outpace inflation. 

Last month, Mr Sanders wrote to the makers of 10 generics that have seen increases of over 300 per cent. The price for just one, the antibiotic doxycycline hyclate, rose more than 8,280 per cent from $20 (£12.76) per bottle to $1,849 (£1,180).