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Some related articles : Spending on Prescription Drugs Increases by Almost 19 Percent |
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Study says prices of 50 most prescribed drugs for seniors tripled inflation rate last year
The prices of
the 50 most prescribed drugs for older Americans rose, on average, at
almost triple the overall rate of inflation last year, a study says. The liberal
consumer advocacy group Families USA released the report in advance of the
House debate scheduled to start Wednesday on a Republican-backed bill that
would spend $310 billion over 10 years to provide seniors with a
prescription drug benefit. "Prescription
drugs for seniors are becoming increasingly unaffordable," said Ron
Pollack, Family USA's executive director. "Some of the most popular
drugs increased at intervals of eight and nine times." Jeff Trewitt,
a spokesman for the Pharmaceutical Research and Manufacturers of America,
the industry's trade group, said the report was misleading. "The
report completely ignores the fact that retail prices vary widely among
pharmacies in a single community," Trewitt said. "Retail prices
of the same medicine can vary by more than 100 percent within a few city
blocks. It is essential we correct the notion that all elderly patients
pay the same price for the same drug." Besides,
Trewitt said, "the pharmaceutical price tag is almost always far
cheaper than the cost of surgery and hospitalization." According to
the report, the drugs Demadex, a diuretic, and Premarin, an estrogen
replacement drug, both rose 17.8 percent, almost seven times the rate of
inflation last year. Plavix, an
anti-clotting drug, rose 16.8 percent, more than six times the inflation
rate, while the cholesterol-lowering Lipitor rose five times the rate of
inflation. The report
used data from Pennsylvania's state-run prescription drug program for the
elderly, those 65 and older, to develop the list of the 50 top-selling
drugs. Price histories were then obtained from a database published by
Medi-Span/Facts and Comparisons. The rate of
inflation used in the report, 2.7 percent, is for January 2001 to January
2002 and excludes highly volatile energy and food prices. "There
is no reasonable basis for these alarming price increases, which continue
to make prescription drugs unaffordable for too many seniors,"
Pollack said. The study
found that 10 of the 50 most-prescribed drugs for seniors are generics.
The average annual price for those drugs was $375. Nine of those drugs did
not increase in price at all. The other 40
most prescribed drugs are brand-name medications with an average annual
price of $1,106. Only three of the brand-name drugs did not increase in
price last year. Pollack said
the study showed that "generics are not only cheaper, but they are
generally rising in price at much slower rates than brand-name
drugs." The rapid rise in prices means that even if Congress passes a prescription drug benefit, it may eventually be too costly even for the government, Pollack said. FAIR USE NOTICE: This page contains copyrighted material the use of which has not been specifically authorized by the copyright owner. Global Action on Aging distributes this material without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. We believe this constitutes a fair use of any such copyrighted material as provided for in 17 U.S.C § 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.
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