Annual inflation in drug costs is at the lowest rate

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Cheerful

Joined: 14-Aug-2007
Posts: 123

Posted: Wed Sep 26, 2007 02:29 am Post topic: Annual inflation in drug costs is at the lowest rate
Annual inflation in drug costs is at the lowest rate in the three decades, according to the NY Times. The rate over the last 12 months is 1 percent. As recently as 2005, inflation in drug prices was running at an annual rate of 4.4 percent. Economists say the slowdown has come about because more people are turning to generics and because generic versions of some of the most common drugs have recently come on the market. According to the nonprofit Kaiser Family Foundation, in 2006 the average brand-name prescription cost more than three times the average generic: $111, compared with $32. Generics made up 63 percent of prescriptions dispensed in the United States in 2006, up 13 percent from 2005.
Tags: prescription-cost , generic

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