GRASPING pharmaceutical company Actavis UK was slammed yesterday for outrageously ramping up the price of a life-saving drug by more than 12,000 per cent.

The Competition and Markets Authority (CMA) said that Actavis, formerly known as Auden Mckenzie, increased the price of 10mg hydrocortisone tablets — used to treat a range of conditions including allergic disorders, psoriasis and arthritis — from 70p in April 2008 to a shocking £88 per pack by March 2016.

The firm has also been condemned for increasing the price of 20mg hydrocortisone tablets by nearly 9,500 per cent compared with the previous branded price — from £1.07 to £102.74 per pack. The cynical price rises sent the amount the NHS spent on hydrocortisone tablets from approximately £522,000 to £70 million a year by 2015.