Thursday, December 18, 2014

The rising cost of free stuff


They cited the example of the asthma drug albuterol sulfate. The average cost for a bottle of 100 pills was $11 last October, the pair said. The average charge by this April was up to $434.

The antibiotic doxycycline hyclate cost $20 last October for a bottle of 500 tablets, the congressmen observed. By April, the price was $1,849.

"Most generics are increasing in price by an average 10% a year," said Bryan Birch, chief executive of Truveris, a New York company that monitors prescription drug costs. "But we've seen some popular drugs increase by more than 650% in the last year."

He cited simvastatin, the generic equivalent of cholesterol drug Zocor, and clomipramine hydrochloride, the generic version of antidepressant Anafranil. Prices for each rose more than 650% from June 2013 to this June, Birch said.

He said consumers often are unaware of such huge price hikes because they face only a copay when they buy meds at a drugstore.

The skyrocketing costs are borne primarily by insurance companies, which subsequently raise people's premiums to accommodate the greater expenses, Birch said.

"Someone ends up paying the bill," he said. "Ultimately, it's consumers."

"There is much to be said for trying to improve some disadvantaged people's lot. There is nothing to be said for trying to create heaven on earth." -- Margaret Thatcher


Anonymous said...

only two or three manufacturers now make some generic meds.,
What happened to anti trust laws? Banks as well as pharmaceuticals have become so big, they can manipulate manufactured goods, commodity and money markets.

...even with widespread use of generics, Americans pay the highest prices in the world for prescription drugs.
Could it be just as the American taxpayer will subsidize Captain Bullshit's 'outreach' to commie Cuba, Americans are also subsidizing lower drug prices outside America? I'd bet on it.
Lt. Col. Gen. Tailgunner dick

Anonymous said...

So much for the "Affordable" care bullshit that The Ayatollah and his toadies in Congress forced on us a couple of years ago. And we keep electing these sonsabitches! Scottiebill

Anonymous said...

The prices and lack of completion are the result of lawsuits and government intervention.

Anonymous said...

We used to keep Tetracycline on hand. It was one of the most common, readily available and least costly antibiotics.
But the price has skyrocketed for about $20 to $400.
Everything I can find indicates the increase was driven by government policies.

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