Comparing Prescription Drug Pricing
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The pharmaceutical companies often get a bad rap for the high cost of prescription drug pricing when the blame should be placed elsewhere. It is true that the cost of prescription drugs is often quite high although the pharmaceutical companies attempt to explain the outrageous expense involved in research and development of new drugs. The purpose of creating a medical drug program by some companies was to reduce the high cost by manufacturing the same drugs without the brand name. This can only be accomplished after the patent on the name brand drug has expired, which is a period of 20 years from the introduction of the drug.
Expenses
The expense associate with prescription drugs does not fall entirely on the shoulders of the drug manufacturers, however, but the retail outlets, big box stores and pharmacies – both franchise and independent. The resellers receive the generic drugs at a specific price and may choose to sell them at any price they wish. A recent report showed that some resellers choose to mark up their products as much as 3,000%. As there is no current regulation on this action, consumers are forced to pay whatever is required for their medications.
However, consumers may find that with some research they are not held to the high prices charged by some resellers. Price comparisons between various companies – online as well as brick and mortar stores can show that there are companies that charge little above the cost of the prescription drug items.
