by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | Dec 9, 2016 | Drug Prices, Generic drugs
To treat gouty arthritis, patients have been taking a drug called Colchicine for over 200 years. Apparently, it’s a very helpful drug, but it’s neither new or innovative, to say the least. It’s no longer under patent protection and is available as a generic medication. It’s supposed to be super cheap, right?
So why is the estimated cash price for Colchicine .6mg at Walgreens about $590 for 100 pills?! Even with a Colchicine discount coupon it’s $239.37 – about $2.40 per pill. Compare that with the lowest cost Colchicine sold at a PharmacyChecker-verified international online pharmacy, 41 cents per pill or $41 for 100 pills – about 90% less than the Walgreens retail price! And just to be clear that’s a Canadian pharmacy price.
You can compare Colchicine prices at local U.S. pharmacies and international online pharmacies on PharmacyChecekr.com.com.
Yes, this is an example of drug companies AND U.S. pharmacies having free reign to charge whatever they want. For brand drugs on patent that often leads to exceedingly high prices because the pharmaceutical company has a monopoly: there’s no competition. But for generic drugs there is supposed to be competition to bring down the price. What went wrong with Colchicine? (more…)
Tagged with: colchicine
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | Dec 1, 2016 | Advocacy, Drug Prices, Government, Policy, Politics
…about the high cost of meds.
For those who want a comprehensive but straightforward explanation about why drug prices are incredibly higher in the U.S. than in other countries, I strongly recommend reading in VOX, “The true story of America’s sky-high prescription drug prices.”
Many of you know that in other countries, such as Australia and Canada, government agencies negotiate with pharmaceutical companies through myriad policy interventions to keep prescription drugs affordable for their citizens. This article explains how that’s done, why it works – but also identifies the tradeoffs where in some cases a new drug is not available outside the U.S. because regulators decide it doesn’t offer additional value over existing drugs.
It also addresses the issue of how research and development to find new drugs may be negatively affected if the U.S. institutes more control over drug prices. Some people argue that broader access to currently available drugs at lower prices means fewer new breakthrough drugs coming to market. [EDIT 12/9/2016: I wanted to make clear that many people do not agree with this position and argue that more drug company profits are spent on marketing and advertising than on research and development and the pharmaceutical industry greatly exaggerates the prospects of less innovation due to drug price controls].
In speaking with lots of people on different sides of the political spectrum and with contrasting governing philosophies — everyone agrees that us Americans are getting a bad deal on drug prices right now. This VOX piece really speaks to the issues at hand, objectively and truthfully, and if you’re interested in “getting it” you should read it.
Tagged with: price controls, VOX
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | Nov 24, 2016 | Advocacy, Drug Prices, Government, Politics
It’s a national disgrace that this Thanksgiving Americans will go without medication because prices are too high. First Coast News in Jacksonville, FL, and other ABC local stations, teamed up to report on the continuing crisis of high drug prices. Its opening is chilling: “In living rooms and kitchens across the First Coast, families are choosing between food and vital medicine.”
The report notes that prescription drug spending is much higher in the United States than in other rich countries. Why? “Well, other countries directly negotiate drug prices on behalf of their citizens.” And that explains why Americans are buying medications from outside the U.S., despite the federal restrictions. They are cheaper overseas.
Today I’m not feeling like just slamming Big Pharma and drug companies for their greed. On the heels of this bizarre national election, it’s our elected leaders who need to feel the heat. President Elect Donald Trump states: “Allowing consumers access to imported, safe and dependable drugs from overseas will bring more options to consumers.” It’s one of the few things that Americans, Right, Left and Center, would agree on.
Happy Thanksgiving!
Tagged with: food or medicine, thanksgiving, trump
To treat gouty arthritis, patients have been taking a drug called Colchicine for over 200 years. Apparently, it’s a very helpful drug, but it’s neither new or innovative, to say the least. It’s no longer under patent protection and is available as a generic medication. It’s supposed to be super cheap, right?
