April 12, 2005 — An AARP report shows 195 brand-name prescription drugs widely used by older individuals rose in price by 7.1%, on average, in 2004.
That’s based on medicate makers’ discount list price, which may not reflect what any specific person paid for the drugs. And a drug industry representative says the numbers don’t accurately reflect what individuals pay.
The AARP survey moreover secured manufacturer list prices for 75 generic drugs. Deals of those drugs rose slightly (0.5%) in 2004, says the AARP, a nonprofit group once called the American Association of Resigned People.
Sedate Industry Bunch Responds
AARP is “comparing apples to oranges,” says Jeff Trewhitt, representative for the Pharmaceutical Investigate and Manufacturers of America (PhRMA).
He says an improved way to track sedate prices is to utilize the Shopper Price Record, which tracks a mix of brand-name and medicine drugs. The drugs on the CPI’s list aren’t fundamentally the same as those AARP followed.
“We solidly accept that the Customer Price Index maintained and updated by the Bureau of Labor Statistics has the most up-to-date, accurate information,” Trewhitt tells WebMD. He says the AARP’s numbers don’t take into account rebates, discounts, and other adjustments made to the sedate manufacturers’ discount prices.
AARP’s Numbers
Manufacturers’ discount list prices for brand-name medicine drugs have outpaced general inflation for five straight a long time, says the AARP. America’s common expansion rate for 2004 was 2.7%, according to the federal government’s CPI.
As it were one of the brand-name drugs tracked — Prilosec 20 mg — had no change in producer price in 2004, according to the AARP.
Of the other 194 brand-name drugs, 143 rose in makers’ discount list price by more than 5%, 46 rose by 7.6%-10%, 35 increased by 10%-15%, and eight rose by more than 15%, says the AARP.
Among 75 generic drugs examined, three had a manufacturers’ cost cut. Cost hikes were seen in 16 non specific drugs, nine of which outpaced the general inflation rate. The other 56 non specific drugs had no alter in list price, says the AARP.
From November 2003 to December 2004, the CPI’s sedate costs rose 4%, says Trewhitt. He says that’s lower than the 4.7% generally restorative inflation rate famous by the CPI.
“The medicine medicate CPI is the foremost accurate publicly available degree of what buyers actually pay,” says Trewhitt, quoting a think about commissioned by PhRMA.
“The prescription sedate CPI reflects the full run of variables that typically affect retail prices, counting wholesale costs, discounts manufacturers negotiate with wholesalers or other customers, item dissemination costs (i.e., getting the item to the pharmacy), drug store mark-ups, and apportioning expenses (i.e., drug store costs),” says the report by Milliman, Inc.
Wallet Impact
What does all that mean to a patient at the drug store counter? It depends whom you ask.
On the off chance that somebody took three medicine brand-name drugs from the AARP’s list and ingested the full amount of cited price increments, they would have paid $154.68 more, on average, in 2004, says the AARP.
PhRMA sees it differently. Other than disputing the AARP’s method, Trewhitt says many individuals take non specific drugs, as well as brand-name drugs.
“Shoppers regularly utilize a mix of brand and nonexclusive solutions as part of their ordinary course of treatment,” says a PhRMA news release.
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