Incredible drug markups

Title: McKinney pharmacy sells drugs at no profit
Source: HoustonChronicle.com
Date: July 31, 2004

We've seen other examples of the effects of the concentration of wealth in the prescription drug marketplace and the health marketplace in general. For example:

• Unbelievable executive payout in California
• Drugs and the concentration of wealth 2
• Drug prices and the concentration of wealth
• Hospitals and the concentration of wealth

Today's article touches on the last part of the drug distribution chain -- the drug store. From the article:

One of Texas' oldest drugstores [Smith Drug] is selling prescriptions at no profit to uninsured and underinsured customers, a move some industry experts called unprecedented.

An example given in the article is incredible:

Carla Chandler's insurance covers three of her five medications. For one of the others, she called every nearby pharmacy and said she was quoted about $240 at one store. Smith Drug charged her $16.68.

If wholesale prices were visible, this kind of incredible price gouging would be impossible, and everyone would be better off.