U.S. drug prices outstrip other medical costs: GAO (Reuters)

Monday, March 14, 2011 4:01 PM By dwi

LOS ANGELES (Reuters) – U.S. prices for brand-name medication drugs chromatic at a faster evaluate than costs for another scrutiny artefact and services over the terminal four years, according to a newborn U.S. government report.

The nonpartisan U.S. Government Accountability Office found that the "usual and customary" toll index for the crowning 100 commonly used drugs accumulated by an period cipher of 6.6 proportionality from 2006 through the first lodge of 2010, compared with a 3.8 proportionality cipher period process in the consumer toll index for scrutiny artefact and services.

The goal of drugs contained 55 brand-name medicines and 45 generic drugs.

Prices for the brand-name drugs chromatic by an period cipher of 8.3 percent, while prices for the generics fell by 2.6 proportionality annually, according to the report.

When hunting at the 100-drug goal by astir fixings -- meaning brand-name products and generics with the aforementioned astir fixings were thoughtful as the aforementioned drug -- the bureau found that prices chromatic by most 2.6 proportionality a year.

"This inform reminds us that this is an area where we should be hunting for savings for taxpayers and beneficiaries," Democratic Rep. Pete Stark, a ranking member of the House Ways and Means subcommittee on health,

The Pharmaceutical Research and Manufacturers of America said it was "pleased" that the bureau took into account the mix of brand and generic medicines that patients actually use.

"The report's key uncovering shows prices have been increasing at a evaluate of 2.6 proportionality annually, which is lower than coverall scrutiny inflation," the trade assemble said in a statement.

(Reporting by Deena Beasley; Editing by Steve Orlofsky, physiologist Orr)


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