AddThis Feed Button "Frequently Copied, Never Duplicated"

Wednesday, April 13, 2005

Wholesale prices for name-brand drugs jump

By ELIZABETH WOLFE, Associated Press Writer

WASHINGTON - Wholesale prices for name-brand drugs jumped an average 7.1 percent in 2004 — the largest hike in five years and more than twice the rate of inflation, according to a study released Tuesday by AARP.

AARP's annual Rx Watchdog Report tracked prices drug manufacturers charged wholesalers last year for about 200 prescription drugs popular with older Americans. The price hikes were the largest annual jump since AARP, the nation's largest lobbying group for the elderly, began sponsoring the study five years ago.

"We are disappointed that brand name manufacturers have failed to keep their price increases in line with inflation despite consumer appeals for them to hold the line," AARP chief Bill Novelli said in a statement. "Much more needs to be done to slow down spiraling drug pricing."

The 7.1 percent hike, slightly higher than 2003's 7.0 percent jump, continues a trend of increasing drug prices. Since the end of 1999, prices of more than 150 popular name-brand drugs have risen an average 35.1 percent, nearly three times the 13.5 percent inflation rate over that period, the report said. In 2004, inflation was 2.7 percent in 2004.

Among the 25 best-selling brand-name drugs on the market in 2003 and 2004, the sleep medication Ambien (10 mg. tablets) saw the largest price jump at 11.9 percent. Flomax, used to treat enlarged prostates, 0.4 mg. rose the least — 1.5 percent.

By contrast, the price for 75 popular generic drugs hardly budged in 2004, rising 0.5 percent. In 2003, manufacturers' prices for generic drugs went up an average 13.3 percent.

The report was prepared by the AARP Public Policy Institute and the PRIME Institute of the University of Minnesota.

6 comments:

Reliable One Staffing Services said...

Super blog. I web surf when I have the time for
blogs like this one.Your site was nice and will be
visited again!
Go and find my michigan jobs
blog.

Reliable One Staffing Services said...

I surf the web looking for blogs like this one.
Your site was on point and will be back again! Awesome
blog.
I know that you love my work so, look up my medical staffing
blog.

Reliable One Staffing Services said...

Captivating blog. I love surfing the web for the
type of blogs that you do. It had me on the edge of my
seat and I kept going back to again and again!
Look who checking out my pharmacy staffing
blog?

Reliable One Staffing Services said...

Incredible blog. I admired your site and I will be
back once again to view it! I use much of my spare
time searching for blogs like yours.
Look who checking out my michigan jobs
blog?

Reliable One Staffing Services said...

Awesome blog. I'm loving the site and I have to
return there soon! Going online, when I have the time,
I look for blogs close to your work!
Look who checking out my michigan pharmacy jobs
blog?

xanax online pharmacy said...

Awesome blog. I'm loving the site and I have to
return there soon! Going online, when I have the time,
I look for blogs close to your work!
Go and click my pharmacy tech jobs
blog.