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OT ..generic drug prices going up

H

Hay hay hay

Well-known Member
I take generics to keep the cost down but...prices are going wild. Senate investigation.


The average price of albuterol sulfate, a common asthma treatment, shot from $11 per bottle last October to $434 per bottle in April 2014, an increase of over 4,000 percent, according to data from the Healthcare Supply Chain Association cited by Sanders' committee.

The price for the antibiotic doxycycline hyclate, used to treat various infections, rose more than 8,280 percent during the same time frame from $20 per 100-pill bottle to $1,849.

John Field of Mt Vernon, Missouri, says he used to be able to buy a month's supply of doxycycline for $4 to treat his Lyme disease, which forced him to stop working as a pipe fitter. The medication now costs $167 per month, a 4,000 percent increase.
 
Very little information given there. When one-line "facts" such as these are quoted, you always need to take them with a grain of salt...

Are these just isolated cases or is it across the board?

Is the increase a matter of someone losing or changing their coverage?

Is the increase a matter of a legitimate increase in the cost of production?
 
Ya..It has only been covered in depth in the Wall Street Journal, NY Times, Business Week , about 100 newspapers, plus ABC evening news and is the subject of a senate investigation.

Quote from the WSJ, 10% of the generic drugs have doubled in price in the last 12 months meaning the price to consumers has tripled.
 
A lot of generics were and are produced overseas, US sales were normally under the umbrella of some large international corporation with US operations or a US drug company. The FDA has cracked down the last few years because of supposedly bad shipments of drugs and unapproved practices in foreign factories. The result is there are now less than half a dozen drug makers turning out most of the generic drugs, economics 101 then kicks in, short supply = price increases
 
(quoted from post at 11:47:18 11/20/14) A lot of generics were and are produced overseas, US sales were normally under the umbrella of some large international corporation with US operations or a US drug company. The FDA has cracked down the last few years because of supposedly bad shipments of drugs and unapproved practices in foreign factories. The result is there are now less than half a dozen drug makers turning out most of the generic drugs, economics 101 then kicks in, short supply = price increases
Click to expand...
ust this month there was the story about Indian antibiotic killing many people....traced to rat poison in the contaminated drugs. Bad factory practices.
 
(quoted from post at 08:43:26 11/20/14) Ya..It has only been covered in depth in the Wall Street Journal, NY Times, Business Week , about 100 newspapers, plus ABC evening news and is the subject of a senate investigation.

Quote from the WSJ, 10% of the generic drugs have doubled in price in the last 12 months meaning the price to consumers has tripled.
Click to expand...

Ya, again just one-off "examples" with little information above and beyond. "X's cost went from $Y to $Z." There are 100 reasons why the cost can go up.
 
Or another rule of economics 101,

You need it (no alternative), I have it, Gotcha.

Also called monoploly.

If beef prices are too high I can eat chicken.

If gas prices are too high I can drive a smaller vehicle or a diesel.

But if my drug prices are too high.. I can stop paying the rent, quit eating, or be sick and die?

These are generics, not drugs that the companies have spent $billions to develop.

Sort of explains why many people think "totally free enterprise healthcare" is a troubling concept.
 
Those generics started out as branded drugs, of course there were billions spent on development, but the patents expired. People better hope that at least where drugs and related new development are concerned the healthcare industry remains totally free enterprise. Companies develop new drugs etc. to make money, lord help us if the government takes over R&D and assumes responsibility for medical advancements.
 
Drug prices increase for the same reason your electricity, natural, LP gas, gasoline, diesel, along with other things--- because THEY CAN! Most are necessities and they know that!
 
They've gotcha by the yingyang Edd. It'd be interesting to know what the same drugs cost in Canada.
 
LAA is exactly right on this one guys. I've been in nnalert for almost 15 yrs and have been seeing a lot of generic increases for the past year. If you happen to be on a brand name drug, go to the website of that drug and download a savings card. Works for most commercial insurances and cash pay patients. Tricare, medicaid, part d and other govt funded programs are a little trickier. Check out the company's patient assistance programs which can help as well. Remember not all generics are exact copies of the branded version due to the manufacturing process, device containing the meds(inhalers) etc. here is a helpful website for some. www.needymeds.org
Good luck
 
I am not on a side. Just wonder why? And why would the price in Canada be different? taxes? Regulations? lack of regulations? Tariffs?

Should cost the same to manufacture the drug????no?
 
My daughter had her appendix out last weekend.
Some medicine she needed was over $100 for 20 pills. Local old school pharmacy Charged $14 . A couple of years ago I needed some skin cream for a skin graft I had. Same pharmacy told my wife the stuff was over $300 for a small tube.They made some in the back room that work well for $30.
Somebody is gouging the public.
 
Some of the best prices are available on the Northwest Canadian Pharmacy web site in British Columbia.
 
Ive always figured part of the reason drugs are higher here as companies can charge more here to recoup costs as we are considered a "rich" nation as that is where the money is at and it is an open system. Not everyone is rich though....
 
Quick single reason for the increases, and it's our new now mandatory "insurance" someone has to pay for all the freeloaders, they figured out how to increase the cost of the generics to help pad the pot. Funny how all these drugs are so expensive, yet if one learns about natural health, one can take the actual plant form that the synthetic drug is made to mimic, for pennies on the dollar without the side affects... I went all natural a few years ago, have never felt better, and do not see the doc or pay prescription drugs anymore either.
 
We have about 5% of the world's population and spend about 80% for the world's prescription dollars.
How much do you think somebody making $400 a year is going to spend on meds? Not saying it is right, but what is the answer?
 
Edd, I'm not smart enough to know why. My brother used to get his prescriptions from Canada for 10% of the cost of the very same medicine in Ohio. I haven't discussed it with him in a long time, so the situation may be different now.
 
I get eye drops for my dog at the pharmacy 25.00 dollars. Same formula for a human 175.00 dollars.Lady that mixes it up told me same stuff different label.
 
(quoted from post at 02:29:27 11/21/14) I get eye drops for my dog at the pharmacy 25.00 dollars. Same formula for a human 175.00 dollars.Lady that mixes it up told me same stuff different label.
Click to expand...

I think there is a similar situation concerning bottled oxygen . I have heard there is a huge difference in price paid by health establishments as opposed to what I buy at welding supply.
 
Canada and Europe tell the drug companies that if they want to sell a drug in their country that they can charge cost of manufacturing plus a small markup. A small markup is better than nothing so the drug companies agree to it. The drug companies then charge all their research and development costs to the American consumer, so the rest of the world gets a free ride at the expense of the American consumer.
 
(quoted from post at 18:29:27 11/20/14) I get eye drops for my dog at the pharmacy 25.00 dollars. Same formula for a human 175.00 dollars.Lady that mixes it up told me same stuff different label.
Click to expand...

Years back, I got a scrip for tagemet, for acid reflex for a dog. $9. My wife's grandmother, about the same weight as the dog, had the exact same script, the exact same packaging, same company, $200.
 
(quoted from post at 20:39:16 11/21/14) Canada and Europe tell the drug companies that if they want to sell a drug in their country that they can charge cost of manufacturing plus a small markup. A small markup is better than nothing so the drug companies agree to it. The drug companies then charge all their research and development costs to the American consumer, so the rest of the world gets a free ride at the expense of the American consumer.
Click to expand...

A lot of these drugs cost here is in marketing. You don't see drug commercials overseas. A friend of mine is a drug rep. When he started 30 years ago, there were 2 people in his regional office. Now there are more than 40. He has a enormous entertainment budget. He often flies doctors to the islands for golf outings or to Mexico. Lots of money peddling pills here, lots of tv ads. Somebody is paying for all that?
 
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