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Cost of Brand-Name Prescription Medicines Soaring
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A report by pharmacy benefits managing company Express Scripts shows a 13% increase in the price of branded drugs in the U.S. from Sept 2011 to Sept 2012. Generic drug prices declined by 22% in this period. The report also shows that growing spending on specialty drugs for cancer, MS and other diseases is a big reason for the increase in prices of branded drugs. This report is from a random sample of six millon Express Scripts members using prescription drug coverage. Prof. Schondelmeyer of the University of Minnesota, who manages the drug benefits program at the university and conducts a similiar price report for AARP, says the potential benefits for these specialty drugs are not that good to justify the high prices.
Price increases and cost of branded drugs and generic drugs- the pharmaceutical industry in 2011-2014
01/11/2010
Higer cost of specialty drugs for cancer, MS, other diseases, and the efforts by companies to squeeze profits from a shrinking branded portfolio push costs up for branded drugs. Prices of generics decline significantly. Express Scripts study shows 11% increase for branded drugs in 2011-2012 compared to 22% decrease for generics.
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