Prescription drug prices in the U.S. are significantly higher than in other countries, averaging 2.78 times more than in the 33 other nations studied by the Ran
NEW YORK, NY - OCTOBER 27: Prescription pill bottles are displayed during a press preview of an auction of the personal effects of Dr. Jack Kevorkian at the New York Institute of Technology on October 27, 2011 in New York City. The auction will take place on October 28 and feature over 100 items including artwork, documents and other personal items. Prescription drug prices in the U.S. are significantly higher than in other countries, averaging 2.
“There are some discounts we see in the U.S., but in general, we don’t force companies to give us the best price. And all of our peer nations do,” said Stacie Dusetzina, a professor in the Department of Health Policy at Vanderbilt University School of Medicine. “They will negotiate prices based on access to national formularies, so they can really obtain much better discounts than we can obtain in the U.S.
“What I would suggest is that many of the drugs that are not available in those countries are priced too high for the benefits that they bring,” she said. “There obviously could be some examples of good drugs that aren’t in those countries, but by and large, their citizens tend to have access to drugs that are clinically beneficial for the price.”The pharmaceutical industry often cites the cost of research and development to justify high drug prices.
Pharmaceutical companies claim the PBMs get them to charge less for their drugs, but the insurance companies that benefit from those discounts fail to pass along the savings to consumers in the form of lower prices., has written extensively on drug prices. The marketplace is “largely driven by rebates, at least for brand-name drugs,” she told Checkbook.
Cost Plus doesn’t accept insurance, so it cuts out the middleman. The savings can be enormous. For example, the prevailing price for a 30-day supply of Imatinib 100mg, a chemotherapy drug, is about $2,500. But buy from Cost Plus and you’d pay $13.40 plus shipping and tax. The one downside, Gill said, is that Cost Plus is not a full-service pharmacy and only sells very common prescription medications.On Sept.
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