by Gabriel Levitt, Vice President, PharmacyChecker.com and Sam Werbalowsky, Pharmacychecker.com | Feb 20, 2014 | Drug Prices, Pharmaceutical Industry
As recently reported by PBS, America continues to outspend other rich countries on pharmaceuticals, spending almost $1,000 per person on prescription drugs in 2013. Canada, the second highest spender, spent about $700 per person. This is despite one in five Americans skipping doses or a script due to cost, as well as an extremely high percentage (84% in 2011) of prescriptions being written for generic medications.
So what’s up? Well, for one, our drug prices are much higher. Our latest analysis of brand-name drugs sold by international online pharmacies found that their prices were 88% lower when compared to a pharmacy in New York City.
Major drug price differences aren’t the only reason for higher U.S. spending. PBS explains that Americans, sadly, fill more scripts due to higher rates of obesity, diabetes, and high blood pressure, which of course equates with greater numbers of prescription drug purchases. Another factor is that it’s relatively easy for drug companies to get new drugs approved and in to the U.S. market.
I was a bit surprised that PBS didn’t mention direct-to-consumer advertising as a possible reason for why we use more drugs. New Zealand is the only other country that allows direct-to-consumer advertising, but they have much lower drug prices than the U.S., due to government regulations.
For the newly insured, Obamacare might mean lower prices for consumers, but that doesn’t mean overall national spending will go down. Lower out of pocket costs from better co-pay or co-insurance models will likely just mean higher premiums and increased reimbursement to drug manufacturers by insurance companies. Look at it this way: if you spend $20 less on a drug per month, but your premium is $20 more, you’re not really any better off.
Interestingly, U.S. drug spending decreased slightly last year, thanks largely to patent expirations resulting in more generic drugs penetrating the market. While PBS mentions that the decline is expected to last another 2-3 years, I’m not so optimistic. For one, generic drug prices are rising, sometimes by thousands of percent. Second, more coverage under Obamacare means more prescriptions, and naturally more spending. Only time will tell…
Tagged with: drug spending, Obamacare, PBS
by Gabriel Levitt, Vice President, PharmacyChecker.com and Sam Werbalowsky, Pharmacychecker.com | Feb 13, 2014 | Drug Importation, FDA, Online Pharmacies
(Click here to skip the explanations and view the steps to finding a Canadian online pharmacy)
If you’ve seen one of the latest FDA press releases regarding Canadian pharmacies, you might be a little confused on how to find one. The FDA seems to acknowledge that there are legitimate – and therefore safe – Canadian pharmacies accessible online. Here’s what they say (with one word italicized by us):
“Don’t order medicines from web sites that claim to be Canadian pharmacies. Most are not legitimate pharmacies, and the drugs they supply are illegal and potentially dangerous.
Claiming to be a Canadian pharmacy is one of the hallmarks of Internet sites that sell illegal prescription drugs which, in many cases, are not made in Canada at all, but in a number of other countries. (Even if an online Canadian pharmacy is legitimate, in general, U.S. citizens cannot legally import prescription drugs from other countries. But that’s a separate issue. We’re talking here about fraud).”
The FDA’s focus on protecting you from online pharmacy fraud is commendable because that’s where the real health and safety threats reside. Since they don’t tell you how to find a legitimate, real Canadian pharmacy, we’re providing you with facts and guidance to help you make the right decisions for your health and prescription savings. Let’s remember, brand name medications sold in Canada and other non-U.S. pharmacies are often astronomically cheaper than ones here at home. (more…)
Tagged with: Canadian pharmacies, FDA, NABP, phrma
by Gabriel Levitt, Vice President, PharmacyChecker.com and Sam Werbalowsky, Pharmacychecker.com | Jan 10, 2014 | Drug Importation, Drug Prices, Generic drugs
Americans are used to high drug prices — at least for brand-name medications, which are often five times more expensive in the U.S. than in other countries. Conversely, Americans are used to low-cost generics, which are often cheaper here than internationally. Unfortunately, the U.S. generic pharmaceutical market is out of whack! Generic drug prices have begun rapidly rising over the past few months…
And rapidly rising can mean a price increase of 6,000%, as reported by recent articles in the Huffington Post, Washington Times, and The People’s Pharmacy. Here’s an almost unbelievable fact: the brand-name drug is often much less expensive – if you shop at an international online pharmacy.
So, why such drastic increases? The People’s Pharmacy article attributes the increases to three factors. First, consolidation among generic manufacturers means less competition among drug makers; forty-four percent of all generic drug revenue goes to just three companies. Second, companies are discontinuing the manufacture of certain drugs leading to drug shortages. Finally, FDA enforcement actions have shut down certain manufacturers because of poor manufacturing practices. With reduced supply and competition, it’s no wonder that prices are increasing.
So if you’re finding your generic medication rising in price, how can you find it for less…much less? Try the brand! I’ve identified some generic drugs below that have significant savings when the brand is purchased from abroad.
Prices for Generic Medications
| Drug |
Cash Price* |
International Online Pharmacy Price (Brand) |
Potential Savings (generic) |
| Clomipramine—75 mg, 90 pills |
$985 |
$121.50+
(Anafranil) |
88% |
| Duloxetine – 60 mg, 100 pills |
$734 |
$100++
(Cymbalta) |
86% |
| Doxycycline Hyclate — 100 mg, 100 pills |
$617 |
$251.21
(Vibramycin) |
59% |
*Cash price from local pharmacy in New York City. International Online Pharmacy Prices from lowest price on PharmacyChecker.com
+ Price calculated from 100 pills
++Price calculated from 84 pills
Tagged with: Anafranil, Clomipramine, Cymbalta, Doxycycline, Duloxetine, Huffington Post, The New York Times, The People's Pharmacy, Vibramycin
