Estimated read time: Less than a minute
WASHINGTON, Nov 04, 2004 (United Press International via COMTEX) -- A new AARP study of generic drugs says while manufacturers' prices for some medicine rose rapidly over the past three years, the consumer fared well.
If the increases were passed along to the consumer, the report said, it would mean only a few dollars per year for any one of the 75 generic drugs widely used by Americans age 50 and older.
"Even if the increases were passed on to consumers, generic drugs are still a good buy," said report co-author David Gross, a senior policy advisor.
The report indicated that, while many of the generic drugs in the sample had high percentage increases in manufacturer list prices, more than half showed no price increase or showed price decreases.
The report, conducted by AARP with the PRIME Institute of the University of Minnesota, is part of AARP's "Watchdog" initiative on prescription drug pricing. The generic drug study monitored the changes in manufacturers' list prices from 2001 through 2003.
Copyright 2004 by United Press International.