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Topic: The high cost of meds (Read 182 times) |
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hdbngr
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The high cost of meds
« on: Apr 29th, 2005, 11:35am » |
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The women who wrote this email and signed below are Federal Budget Analysts in Washington, DC
Did you ever wonder how much it costs a drug company for the active ingredient in prescription medications? Some people think it must cost a lot, since many drugs sell for more than $2.00 per tablet. We did a search of offshore chemical synthesizers that supply the active
ingredients found in drugs approved by the FDA. As we have revealed in past issues of "Life Extension," a significant percentage of drugs sold in the United State contain active ingredients made in other countries.
Since the cost of prescription drugs is so outrageous, I thought everyone should know about this. Please read the following and pass it on. It pays to shop around.
On Monday night, Steve Wilson, an investigative reporter for Channel 7 News in Detroit, did a story on generic drug price gouging by pharmacies.
He found in his investigation, that some of these generic drugs were marked up as much as 3,000% or more. Yes, that's not a typo ... three thousand percent! So often, we blame the drug companies for the high cost of drugs, and usually rightfully so. But in this case, the fault clearly lies with the pharmacies themselves For example, if you had to buy a prescription drug, and bought the name brand, you might pay $100
for 100 pills. The pharmacist might tell you that if you get the generic equiva-lent, they would only cost $80, making you think you are "saving" $20. What the pharmacist is not telling you is that those 100
generic pills may have only cost him $10!
At the end of the report, one of the anchors asked Mr. Wilson whether or not there were any pharmacies that did not adhere to this practice, and he said that Costco, Sam's Club and other discount volume stores
consistently charged little over their cost for the generic drugs. I went to the discount store's website, where you can look up any drug, and get its online price. I was appalled. Just to give you one example from
my own experience, I had to use the drug, Comparing, which helps prevent nausea in chemo patients. I used the generic equivalent, which cost $54.99 for 60 pills at CVS. I checked the price at Costco, and I could
have bought 100 pills for $19.89. For 145 of my pain pills, I paid $72.57. I could have got 150 at another discount store for $28.08. I would like to mention, that although these are a "membership" type store,
you do NOT have to be a member to buy prescriptions there, as it is a federally regulated substance. You just tell them at the door that you wish to use the pharmacy, and they will let you in.
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