AARP report: Decreases in generics prices are slowing down

WASHINGTON — The AARP Public Policy Institute’s latest Rx Price Watch Report shows that, despite an overall 4% decrease in price in 2013, the prices of generic drugs seem to be dropping at the slowest rate since 2006. 

 

The report, which examined the prices of 280 widely used generic drugs, found that even though a majority saw a price decrease, more than a quarter of them increased in price. Among those that increased in price, some 11 medications had price increases over 30 percent. 

 

In the case of bacterial infection and acne treatment doxycycline hyclate, the price of 100 mg capsules and tablets increased over 1,000 percent. Rheumatoid arthritis medication methotrexate 2.5 mg tablets  increased in price over 250%. 

 

With generics constituting more than 75% of U.S. retail prescriptions, those who rely on generics — particularly elderly patients — will feel the impact of these increases, as well as the slower rate of cost decrease, in their wallets.

 

“Declining generic drug prices have helped many Americans’ pocketbooks, particularly older adults on fixed incomes,” AARP’s VP, policy, Debra Whitman said. “Unfortunately, recent trends indicate that we may not be able to rely on these savings forever.”