Generic medications are a better bargain
than ever, according to the results of a new
AARP study showing that brand name prescription
drug prices are climbing at double
the overall rate of inflation. Ten of the brand
name drugs tracked by AARP's Watchdog
Report increased at least 4 times the rate of general inflation
"Over time, escalating drug prices will make Medicare
drug plans unaffordable for older Americans," said David
Sloane, AARP's senior managing director of government
relations and advocacy.
On average, nearly 200 of the most commonly used
brand name drugs for older adults rose 6.2% in 2006, AARP
said. In contrast, manufacturer list prices for the 75 generic
drugs tracked by AARP's Watchdog Report fell by 2.0%
last year, continuing the downward trend for the price of
generics that began in 2003.
AARP strongly supports several legislative measures to
put even more downward pressure on prescription drug
prices, including proposals to allow Medicare to negotiate
Part D drug prices, and generic drug industry-supported
measures permitting generic versions of biologic drugs to
be brought to market.