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Drug prices rising-GAO report
Physician Practice Advisor, September 21, 2005
An August report from the Government Accountability Office (GAO) found that usual and customary (U&C) prices for a 30-day supply of 96 frequently used drugs rose 24.5% from 2000 to 2004. The study examined price trends for frequently used brand and generic drugs.
Price Trends for Frequently Used Brand and Generic Drugs from 2000 through 2004 was conducted in response to the rising cost of prescription drugs. Prescription drug costs accounted for 10.7% of national health expenses in 2003.
Some of the report's findings include:
- the average prices for 50 brand drugs increased three times faster than the average U&C prices for 46 frequently used generic drugs
- Twenty drugs accounted for 64 percent of the total price index increase from January 2000 through December 2004. These drugs include Lipitor, Celebrex, Plavix, and Prevacid.
To view the full report, click here.
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