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Prescription Drug Prices:   What You Should Know

by Sharon Merhalski
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There have been many news articles surfacing exposing what pharmacies are not telling the public about the cost of prescription drugs. The Detroit News has given us permission to link to their well-written article: http://www.detnow.com/news/0207221204.html

 Comparison shopping has become a must for those of us who need prescription medications.  After reading this article I made a dozen phone calls to pharmacies concerning the prescription that I take, which I cannot get in a generic form.  I fould it $8.00 cheaper at a Target Pharmacy.  Other people I know made several calls about generic prescription drugs they take and the price difference between pharmacies was a gigantic surprise to all. The article mentions the cheapest prices the reporter found were at a Costco Pharmacy. This may be due to the fact that Costco is a Canadian company and pharmaceuticals in Canada are much cheaper. (All discount store pharmacies are by law available to all people whether they are members or not.) 

 Quotes from the Detroit News article:

 "Testifying on Capitol Hill this past week, Alan Greenspan bemoaned what he called "infectious greed" that has gripped much of America's business community. You knew about it at Enron, you've heard of Worldcom, Kmart and the others…but even down at your local pharmacy on the corner, when it comes to pricing?

Greg Pabb may not be the last honest man in the drugstore business but I didn't find many like him in my investigation of pharmacies throughout Metro Detroit…a local businessman with the courage to confess what he admits is nothing less than price gouging rampant at all kinds of drugstores all across Metro Detroit and beyond."

 "We went to store after store after store where a prescription for a generic that costs the pharmacy only about $2 is being sold to many of you for as much as $100, despite their denials.

Prescription drug prices, they're the fastest growing segment of health care costs today, and now we're learning it's not only the big drug makers reaping sky-high profits, local drugstores encouraging you to buy lower-cost generic drugs are quietly keeping most of the savings for themselves."

 We hope this information will help many people save a lot of money.

 

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