by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | May 11, 2010 | Healthcare Reform
We reported and discussed the generally positive changes to Medicare’s Part D brought about by the new healthcare law, including a 50% reduction of drug prices during the coverage gap (the “doughnut hole”) in 2011. But the devil is always in the details. According to AARP, federal regulations drafted by the Centers for Medicare and Medicaid (CMS) may provide loopholes for some insurers whereby not all plans would have to meet this requirement. The AARP notes that it will closely monitor the actions of pharmaceutical companies to ensure that they are living up to their commitments to bring down drug prices for our seniors and other Medicare enrollees. PharmacyChecker.com commits to do the same and to help those who are falling through the cracks by providing information about finding safe and affordable medication online.
Tagged with: Healthcare Reform, Medicare, pharmaceutical companies, seniors
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | Apr 22, 2010 | Drug Prices
For most industries, prices were stagnant in 2009. In fact, the consumer price index was down 0.4% last year (ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt). But according to the Wall Street Journal, drug prices in the United States were up by 9.1%, the largest increase in more than a decade. Below is an analysis of the prices of two popular prescription drugs identified in the WSJ as showing the greatest increases, the cost for an uninsured American at a local New York City pharmacy, and how much they could save through personal drug importation via a verified online pharmacy.
| | Per Pill Cost[i] | | | Potential Savings | | |
| Medication Name: Brand (Generic) | Strength | U.S[ii] | Canada[iii] | NZ/UK[iv] | Canada | Other Int'l | Overall |
| Tegretol (Carbamazepine) | 200mg | $2.87 | $0.77 | $0.57 | 73% | 80% | 80% |
| Cleocin HCl (Clindamycin) [v] | 300mg caps | $24.00 | $3.38 | NA | 86% | NA | 86% |
| Catapres (Clonidine HCl) | 0.1mg | $3.34 | $0.45 | NA | 86% | NA | 86% |
| Sandimmune (Cyclosporine) | 100mg /mL 50mL | $664.84 | $327.98 | NA | 51% | NA | 51% |
| Lanoxin (Digoxin)[vi] | 0.125mg | $12.54 | $0.75 | NA | 94% | NA | 94% |
| Depakote (Divalproex)[vii] | 250mg | $5.73 | $0.90 | NA | 84% | NA | 84% |
| Zarontin (Ethosuximide) | 250mg | $4.51 | $0.66 | NA | 85% | NA | 85% |
| Synthroid (Levothyroxine) | 100 mcg (0.1mg) | $1.87 | $0.35 | $0.63 | 81% | 66% | 81% |
| Dilantin (Phenytoin) | 100mg | $1.45 | $0.33 | $0.48 | 77% | 67% | 77% |
| Depakene (Valproic acid) | 250mg | $5.76 | $0.93 | NA | 84% | NA | 84% |
| Coumadin (Warfarin) | 5mg | $3.69 | $0.60 | NA | 84% | NA | 84% |
*Prices as of 4/21/2010
The chief medical officer of Express Scripts, one of the largest pharmacy benefit mangers, is quoted in the article as saying that the price increases on brand name drugs were “exacerbated by the health-care reform debate,” suggesting that drug companies are jacking up prices before they are required to give rebates under Medicaid and Medicare. Some pharmaceutical companies countered that their “price adjustments,” in part, were based on a strategy to ensure consumer access to medications. Raising prices at rates not seen in a decade doesn’t seem like a great way to ensure consumer access to medications, especially during a year plagued by economic recession and major job losses.
Tagged with: consumer price index, cpi, Express Scripts, medicaid, Medicare, pharmaceutical companies
