AARP's Public Policy Institute finds that price increases for brand name drugs have far outstripped the price increases for other consumer goods and services between 2002 and 2007; this is consistent with the pattern that we have seen since initiating our ongoing series of studies on prescription drug prices in 2004. In 2007, the average annual increase in manufacturer prices charged to wholesalers and other direct purchasers for 220 brand name prescription drugs widely used by Medicare beneficiaries was 7.4 percent, or more than two and one-half times the general inflation rate of 2.9 percent. Especially notable is that we see even steeper price increases during the first two years of the Medicare Part D program that covers drugs for Medicare beneficiaries.
Pharmalot » Drug Prices Rose 7.4 Percent On Widely Used Meds
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