From Pharmalot blog this morning, the AARP reported that on average drug prices increased by 8.3% in 2009 - despite world wide recession and a drop in inflation.
For the most popular drugs, that increase was a whopping, eye-popping 41.5% as compared to a 13.3% increase in the Consumer Price Index. Consultants criticized the study as focusing only on branded medications and noted that generics are widely available in the US and very competitively priced with rapidly growing market share.
By contrast a US Bureau of Labor Statistics study found an overall price increase for drugs at much more modest 3.4%. We may have another case of lies, damn lies and statistics.
Posted by Bruce Lehr August 25th 2010.