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  Elderly Drug Prices Soaring: Report

Martha Kennedy complains about the high cost of prescription drugs with peers at the Iona senior center in Washington, D.C.

By Lisa Myers, NBC NEWS

 June 12, 2002  

Video 

  Martha Kennedy complains about the high cost of prescription drugs with peers at the Iona senior center in Washington, D.C.  

The prices of prescription medicines used by the elderly have jumped in the past year, increasing at twice the rate of inflation, according to a group that advocates federal aid for prescription drugs.

The Report, published Tuesday by Families USA, validates what the lunch crowd at the Iona senior center in Washington, D.C., knows all too well about one of their favorite topics — drug prices.

“I’m not very good about keeping track of things, I must say, but I am aware that I’m spending more money all the time,” said senior Martha Kennedy.

The new study finds that prices of the 50 drugs most popular with seniors jumped, on average, 6.1 percent last year, more than twice the increase of other normal living costs. Over the last five years, prices have gone up almost 23 percent.

And costs of some popular drugs are rising even faster:

Synthroid, used for thyroid problems, is up almost 23 percent — that’s eight times the rate of inflation;

Alphagan, used for glaucoma, is also up almost 23 percent;

Premarin, an estrogen replacement, is up nearly 13 percent.

Families USA calls the increases unjustified.
“Some of these drugs have been on the market for a very, very long time, and yet they continue to increase in prices,” said Ron Pollack of the consumer group.

Top 20 drugs used by older Americans, ranked by number of prescriptions issued.

 

 

Rank

Brand name

Marketer

Therapeutic category

 

 

1.

Prilosec

Astra Zeneca

Gastrointestinal agent

 

 

2.

Norvasc
(5 mg)

Pfizer

Calcium channel blocker

 

 

3.

K-Dur 20

Schering

Potassium replacement

 

 

4.

Lanoxin (0.125 mg)

Glaxo Wellcome

Cardiac glycoside

 

 

5.

Lipitor
(10 mg)

Parke-Davis

Lipid-lowering agent

 

 

6.

Celebrex

Searle

Anti-inflammatory/ analgesic

 

 

7.

furosemide

Mylan

Loop diuretic

 

 

8.

Fosamax

Merck

Osteoporosis treatment

 

 

9.

Glucophage

Bristol-Meyers Squibb

Oral anti-diabetic agent

 

 

10.

Plavix

Bristol-Meyers Squibb

Anti-platelet agent

 

 

Next (11-20)

 

 

Source: "Bitter Pill: The Rises Prices of Prescription Drugs for Older Americans," Families USA Foundation. June 2002.

 

Top 20 highest-priced drugs used by older Americans, ranked by average wholesale price * in 2002.

 

 

Cost/
year

Brand name

Marketer

Therapeutic category

 

 

$2,010

Celebrex (200 mg)

Searle

Anti-inflammatory/ analgesic

 

 

$1,684

Prilosec

Astra Zeneca

Gastrointestinal agent

 

 

$1,626

Prevacid

TAP Pharm

Gastrointestinal agent

 

 

$1,520

Zocor

Merck

Lipid-lowering agent

 

 

$1,440

Plavix

Bristol-Meyers Squibb

Anti-platelet agent

 

 

$1,231

Lipitor
(20 mg)

Parke-Davis

Lipid-lowering agent

 

 

$1,199

Celebrex (100 mg)

Searle

Anti-inflammatory/ analgesic

 

 

$1,108

Detrol

Pharmacia & Upjohn

Overactive bladder treatment

 

 

$1,031

Paxil

SKB

Antidepressant

 

 

$1,015

Pravachol

Bristol-Meyers Squibb

Lipid-lowering agent

 

 

Next (11-20)

 

 

* Price that drug marketers suggest that drug wholesalers charge pharmacies.
Source: "Bitter Pill: The Rises Prices of Prescription Drugs for Older Americans,"
Families USA Foundation. June 2002.

 

 

 

 

Top 20 drugs used by older Americans with largest price hikes from January 2001 to January 2002.

 

 

% Price increase

Brand name

Marketer

Therapeutic category

 

 

20.3%

Metoprolol

Teva

Beta blocker

 

 

17.8%

Demadex

Roche

Loop diuretic

 

 

17.5%

Premarin

Wyeth-Ayerst

Estrogen replacement

 

 

16.8%

Plavix

Bristol-Myers Squibb

Anti-platelet agent

 

 

14.6%

Zestril
(10 mg)

Astra Zeneca

ACE Inhibitor

 

 

14.6%

Zestril
(20 mg)

Astra Zeneca

ACE Inhibitor

 

 

13.5%

Lipitor

Parke-Davis

Lipid-lowering agent

 

 

13.4%

Combivent

Boehringer Ingelheim

Respiratory agent

 

 

11.6%

Paxil

SKB

Antidepressant

 

 

11.5%

Prilosec

Astra Zeneca

Gastrointestinal agent

 

 

Next (11-20)

 

 

Source: "Bitter Pill: The Rises Prices of Prescription Drugs for Older Americans," Families USA Foundation. June 2002.

 

Top 20 drugs used by older Americans, ranked by number of prescriptions issued.

 

 

Rank

Brand name

Marketer

Therapeutic category

 

 

11.

Prevacid

TAP Pharm

Gastrointestinal agent

 

 

12.

Zocor

Merck

Lipid-lowering agent

 

 

13.

Xalatan

Pharmacia & Upjohn

Glaucoma treatment

 

 

14.

Pepcid

Merck

Gastrointestinal agent

 

 

15.

Lanoxin (0.25 mg)

Glaxo Wellcome

Cardiac glycoside

 

 

16.

Norvasc
(10 mg)

Pfizer

Calcium channel blocker

 

 

17.

Synthroid (0.1mg)

Knoll

Synthetic thyroid agent

 

 

18.

Vioxx

Merck

Anti-inflammatory/ analgesic

 

 

19.

Synthroid (0.05 mg)

Knoll

Synthetic thyroid agent

 

 

20.

isosorbide mononitrate

Warrick

Anti-anginal agent

 

 

Back (1-10)

 

 

Source: "Bitter Pill: The Rises Prices of Prescription Drugs for Older Americans," Families USA Foundation. June 2002.

 

 

Top 20 highest-priced drugs used by older Americans, ranked by average wholesale price in 2001.*

 

 

Cost/
year

Brand name

Marketer

Therapeutic category

 

 

$1,004

Vioxx

Merck

Anti-inflammatory/ analgesic

 

 

$973

Claritin

Schering

Non-sedating antihistamine

 

 

$922

Zocor

Merck

Lipid-lowering agent

 

 

$920

Zoloft

Pfizer

Antidepressant

 

 

$889

Glucophage

Bristol-Meyers Squibb

Oral anti-diabetic agent

 

 

$849

Evista

Lilly

Osteoporosis treatment

 

 

$844

Fosamax

Merck

Osteoporosis treatment

 

 

$843

Lipitor
(10 mg)

Parke-Davis

Lipid-lowering agent

 

 

$794

Norvasc
(5 mg)

Pfizer

Calcium channel blocker

 

 

$740

Pepcid

Merck

Gastrointestinal agent

 

 

Back (1-10)

 

 

* Price that drug marketers suggest that drug wholesalers charge pharmacies.
Source: "Bitter Pill: The Rises Prices of Prescription Drugs for Older Americans,"
Families USA Foundation. June 2002.

 

 

Top 20 drugs used by older Americans with largest price hikes from January 2000 to January 2001.

 

 

% Price increase

Brand name

Marketer

Therapeutic category

 

 

11.5%

Prevacid

TAP Pharm

Gastrointestinal agent

 

 

10.4%

Celebrex (100 mg)

Searle

Anti-inflammatory agent

 

 

9.4%

Celebrex (200 mg)

Searle

Anti-inflammatory agent

 

 

9.3%

Claritin

Schering

Non-sedating antihistamine

 

 

9.0%

Pravachol

Bristol-Myers Squibb

Cholesterol-lowering agent

 

 

8.8%

Glucophage

Bristol-Meyers Squibb

Oral anti-diabetic agent

 

 

8.5%

Detrol

Pharmacia & Upjohn

Overactive bladder treatment

 

 

8.1%

K-Dur 20

Schering

Potassium replacement

 

 

7.6%

Toprol XL

Astra Zeneca

Beta blocker

 

 

7.3%

Lipitor (20 mg)

Parke-Davis

Cholesterol-lowering agent

 

 

Back (1-10)

 

 

Source: "Bitter Pill: The Rises Prices of Prescription Drugs for Older Americans," Families USA Foundation. June 2002.

 

Still, the most expensive of the popular drugs last year is a relatively new one — Celebrex, at an average cost of $1,837 per year.

Fortune Magazine rated pharmaceuticals the most profitable industry in the country last year, with an 18.6 percent return. But drug makers insist prices are not rising that fast — citing a government report showing overall prescription prices rose less than inflation last year.

And the companies point out that, in many cases, drugs are replacing even more expensive alternatives such as surgery. Drug makers advise consumers to shop around, citing a recent survey in Seattle that found big differences in prices for the same drug, Premarin, selling for $30.98 at the chain drug store Rite Aid and $15.89 at Costco.

On Capitol Hill, both Republicans and Democrats promise to pass plans this year to help seniors pay for prescription drugs. But their approaches are so different, the end result still could be gridlock.  


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