by Gabriel Levitt, Vice President, PharmacyChecker.com and Sam Werbalowsky, Pharmacychecker.com | Jun 6, 2014 | Drug Importation, Drug Prices, Generic drugs
Americans who take Celebrex to fight arthritis may be pleased to know that a generic version has been approved by the FDA. The New York Times’ coverage reports, in a somewhat predictive fashion, that generic drugs “can cost 30 to 80 percent less than the branded products.” While that’s true, don’t expect generic Celebrex to be so cheap. What’s most likely is that its price will initially be around 80%, and then creep downwards.
Millions of Americans have seen this pricing trend over the past few years, as many popular medications have recently gone generic. A patent’s expiry does not necessarily mean cheaper drugs, at least immediately. That’s because the FDA grants marketing exclusivity for a generic to a single drug company for six months, so only two drug companies – the brand name manufacturer and the first generic manufacturer – are competing. As more drug companies enter the market the price will eventually cost a fraction of the brand name counterpart. But that first generic to market will usually only be about 20% cheaper than the brand.
When atorvastatin (generic Lipitor) first came out you could actually save a lot of money by purchasing the brand from an international online pharmacy instead of the generic from a U.S. pharmacy. Now, with many companies manufacturing atorvastatin, generic Lipitor in the U.S. can be found for about $15 per month if you use a discount card. International online pharmacies that once had a leg up on U.S. pharmacies lose big once competition drives U.S. generic drug prices down.
A perfect example is the popular antidepressant Cymbalta. Currently, the cash price of a 90 day supply of duloxetine (generic Cymbalta, 60 mg) is around $250 – and that’s after using a discount card at the pharmacy. A 90 day supply of brand name Cymbalta is only $90 when ordered from an international online pharmacy – a 64% discount!
We expect this pricing pattern for Abilify, Gleevec, Crestor, and many other drugs coming off patent down the pipeline. In the initial phase of a new generic’s release, the brand version from an international online pharmacy will probably be much cheaper, but eventually your neighborhood pharmacy will be your best bet. So if you take Celebrex expect to celebrate a low cost U.S. generic in early 2015!
Tagged with: Atorvastatin, Celebrex, Cymbalta, Patent Cliff
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | Mar 21, 2014 | Drug Prices, Generic drugs, Saving Money on Prescription Drugs
It seems Americans are increasingly showing up at their neighborhood pharmacies to find out that their medications’ prices have increased exponentially, by as much as 100, 200, 300, 600%…2500%! Believe me, I’m not exaggerating. In an article with a similar title as this blog post, called “Drug Price Gouging,” Steve DeFillippo brings us two examples of sickening drug price spikes. In one instance, a Mr. Gary Loser showed up at the pharmacy only to find that the price of his prescription drug went from $5.50 to $34.50 – an increase of 600%. Mr. DeFillippo then one upped Mr. Loser by recounting his drug price blast-off, when the price of his medication, Nadalol, went from $10 to $252 for a for a 90 day supply – a 2500% increase!
Americans frequently, and usually with good reason, blast big brand-name drug companies, like Eli Lilly, Merck, and Pfizer for charging much higher prices domestically than internationally. In this case we can’t slam big pharma because the medication at issue, Nadolol, is generic and has been around for 40 years. Generic drugs are usually pursued by consumers because their prices are so low. Moreover, generic drugs are usually less expensive in the U.S. than in Canada and many other countries.
So what the heck is up?
The “theory” I’m proposing is more or less just telling you what I’ve heard anecdotally from small U.S. pharmacy owners about these insane generic drug price increases. Over the last year or so, big chain pharmacies, such as CVS and Walgreens, have started to raise generic drug prices to maximize their profits. Now their profit margin is largely the difference between their costs, the wholesale price, and what they can sell it for to individuals, the retail price. Wholesaler pharmacies have apparently realized how much money the big U.S. pharmacy corporations are making on the large profit margins from some generic drugs. These wholesalers want a bigger piece of the pie so they are raising their prices, too. When that happens, good ole’ mom and pop pharmacies, ones that have tried to keep prices down, have to raise their prices, too. So it’s a vicious spiral.
You often don’t have to pay those crazy high prices but you’ve got to shop around. For instance, Nadolol 20mg can be purchased for much less, 100 pills for $52.22, using a prescription drug discount card at a local U.S. pharmacy.
I recommend calling your local pharmacy before you go pick up your medication. If the price is too high then go elsewhere to avoid getting gouged.
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
by PharmacyChecker.com | Aug 16, 2012 | Drug Prices, Generic drugs, Online Pharmacies
A recent New York Times article highlights the dramatically rising prices of prescription skin care products in the United States. When it comes to skin care, popular generic creams, ointments, and lotions are getting far more expensive – take a look at the chart below:
Triamcinolone
acetonide
cream
Betamethasone
dipropionate
cream
As prices climb domestically, they remain stable and comparatively low abroad. While most generic medicines are often cheaper in the U.S. than in other countries, some popular skin care products are exceptions. Examples are shown below:
We found that the average savings by using an international online pharmacy were over 70% when compared to U.S.-based bricks-and-mortar and online pharmacies. If you decide to order from abroad, make sure the online pharmacy is PharmacyChecker.com approved by looking for the PharmacyChecker.com seal.
by PharmacyChecker.com | Jun 13, 2012 | Drug Prices, Generic drugs, Online Pharmacies
Update: 7/17/2012
When we initially published this blog post, Dr. Stephen Barrett from pharmwatch.org had reported significant difficulties using the Plavix Choice Card program. Dr. Barrett subsequently communicated these problems to Bristol-Myers Squib and Sanofi. On July 13th, Dr. Barrett reported that the problems had been fixed and concluded that the program is now a great way to save money on Plavix. For more, see pharmwatch.org.
Buying Plavix at the cash price from your local pharmacy can run you about $2,500 per year! While the drug has recently gone off-patent and a generic version (clopidogrel) is available, the price of the first generic on the market is not much lower. Drug companies offer programs that purport to help Americans acquire the brand name version cheaply – Bristol-Meyers Squibb and Sanofi, the companies that market Plavix, offer the Plavix Choice Card Program. However, Dr. Stephen Barrett, a consumer advocate, recently tried using this program and found it unbelievably complicated – if not impossible – to use.
Dr. Stephen Barrett shares his Plavix Choice Card Program experience on his website Pharmwatch.org. We encourage you to read about it.
Another low-cost way to get this medication is through verified international online pharmacies. Below is a chart comparing prices from a local retail pharmacy in New York, a U.S. based online pharmacy, and from a pharmacy listed on PharmacyChecker.com. As you can see, the savings using an international online pharmacy is even greater (86% savings) than with the Plavix discount program (82% savings). What’s more, unlike the discount program, you don’t have to “qualify” to get the savings.
Drug Prices For 3-Month Supply of Plavix (75 mg)
|
Local Retail Pharmacy* |
U.S. Online Pharmacy** |
Plavix Card Discount Program |
International Online Pharmacy on PharmacyChecker.com |
| Price |
$634.00 |
$585.00 |
$111.00 |
$88.20 |
| Difference From Cash Price |
— |
$49.00 |
$523.00 |
$545.80 |
| Percent Savings |
— |
7.73% |
82.49% |
86.09% |
* Pharmacy in New York City, price collected 6/11/2011
**HealthWarehouse.com, price collected 6/11/2012
Tagged with: Drug Coupons, Pharmwatch.org, Plavix, Plavix Choice Card Program, Stephen Barrett
by PharmacyChecker.com | Dec 2, 2011 | Drug Prices, Generic drugs
Generic Lipitor, called atorvastatin, is now available in U.S. pharmacies but PharmacyChecker.com price data shows that it’s actually far more expensive than brand name Lipitor sold abroad. The bottom line with Lipitor and atorvastatin is that for the insured with pharmacy benefits, co-payments for Lipitor, whether brand or generic, will now be very low. But if you must pay for your prescription drugs out of pocket, you can save approximately 70% buying the brand name drug from international online pharmacies instead of the generic drug domestically. It can mean the difference of annual payments of $1300 for the generic product vs. $400 for the brand name.
Source data: PharmacyChecker.com Lipitor Price Comparisons
For more see our press release from yesterday: Generic Lipitor Still More Expensive Than Brand Name Lipitor in Other Countries.
Tagged with: brand, comparisons, drug coverage, generic drugs, Lipitor, Pfiizer, pharmacychecker.com, press release, price data, U.S. pharmacy
