Drug prices and the concentration of wealth
Title: AARP: Drug prices soaring
Source: USA Today
Date: May 25, 2004
From the article:
- Prices for name-brand medicines most commonly prescribed for seniors have risen at least three times faster than inflation in the last four years, two groups seeking lower prices said Tuesday.
The multiyear price increases outstrip the discounts that will be available to seniors beginning June 1 with a new Medicare discount card. The Bush administration predicts savings of 15% or more for those who pay up to $30 a year to participate.
- AARP's study of 155 name-brand drugs found an average price increase of 27.6% over four years ending in December, compared with a 10.4% inflation rate. The average annual increase in 2003 for the most widely used drugs was 6.9%, triple the inflation rate of 2.2%.