AARP

24 May: Prescription Drug Prices Rise 10 Percent

As many of you may have already noticed, there has been an increase in how much you pay for your drugs. Although inflation remained flat for the year ending in March 2010, the prices for brand-name drugs went up nearly 10 percent, according to AARP. A recent report on prescription drug prices from The Sun News, “Last year, the inflation rate was 0.3 percent, but drug prices went up over 9.7 percent,” said John Rother, executive vice president for policy at AARP. “That’s quite a contrast.” And the price hikes don’t just affect people on Medicare. Rother says the population aged 50 to 64 represents the biggest increase in people taking drugs, and for some of the most common conditions,…

21 Apr: Big Pharma ignores down economy, raises prescription drug prices again

The AARP’s annual report on prescription drug prices, released last week, reveals that pharmaceutical manufacturers raised prices on the most popular brand-name drugs by 8.7 percent in 2008 — well over twice the rate of inflation. According to the AP: AARP’s report highlighted growing costs of what it said were the 219 most widely used brand-name drugs. Among the drugs that saw the biggest price increases in 2008, according to AARP: Prevacid, for acid reflux; Wellbutrin, for depression; and Lunesta, for sleeping. Prevacid went up by 30 percent, Wellbutrin by 21 percent and Lunesta by 20 percent. Financial analysts have attributed some of the increases to drug makers attempting to boost profits amid an economic downturn as they confront the…

17 Feb: Americans spend more on healthcare than education and entertainment.

Scientific American has published an article examining the problem of high prescription drug costs as well as proposed solutions. Some salient stats referenced in the article: American households annually spend more money on health care than on education and entertainment combined. American households spend more than $200 billion on prescription drugs each year. 45 million Americans, including eight million children, do not have health insurance. Free drug samples are generally given to those who already have health insurance — not to those who need them most. 41 percent of Americans report at least some difficulty in paying drug bills. 30 percent of Americans reported that they did not fill prescriptions because of the cost. Here are a couple of the…