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Discount Rx Meds
Material Costs of Medical Compounds Investigative Research Reveals the True Costs of Drugs
Sharon L. Davis, Budget Analyst, U.S. Department of Commerce, Room 6839, Office Ph: 202-482-4458
Mary Palmer, Budget Analyst, Bureau of Economic Analysis, Office of Budget & Finance, Phone: (202) 606-9295
Take a look at this and you will see where the power is. People think it is oil but it’s Pharmaceuticals. This report will make you sick rather than well when you see why insurance can play their game. They play good cop bad cop with the pharmaceutical companies. We can do something about this, raise hell.
What Do Drugs Cost?
Did you ever wonder how much it costs a drug company for the active ingredient in prescription medications? Some people think it must cost a lot, since many drugs sell for more than $2.00 per tablet. We did a search of offshore chemical synthesizers that supply the active ingredients found in drugs approved by the FDA. As we have revealed in past issues of Life Extension, a significant percentage of drugs sold in the United States contain active ingredients made in other countries. In our independent investigation of how much profit drug companies really make, we obtained the actual price of active ingredients used in some of the most popular drugs sold in America. The chart below speaks for itself.
Since the cost of prescription drugs is so outrageous, I thought everyone I knew should know about this. Please read the following and pass it on. It pays to shop around. This helps to solve the mystery as to why they can afford to put a Walgreen’s on every corner… On Monday night, Steve Wilson, an investigative reporter for channel 7 News in Detroit, did a story on generic drug price gouging by pharmacies. He found in his investigation, that some of these generic drugs were marked up as much as 3,000% or more. Yes, that’s not a typo… three thousand percent!
So often, we blame the drug companies for the high cost of drugs, and usually rightfully so. But in this case, the fault clearly lies with the pharmacies themselves. For example, if you had to buy a prescription drug, and bought the name brand, you might pay $100 for 100 pills. The pharmacist might tell you that if you get the generic equivalent, they would only cost $80, making you think you are “saving” $20. What the pharmacist is not telling you is that those 100 generic pills may have only cost him $10!
At the end of the report, one of the anchors asked Mr. Wilson whether or not there were any pharmacies that did not adhere to this practice, and he said that Costco consistently charged little over their cost for the generic drugs. I went to the Costco site, where you can look up any nonprescription medication, and get its online price. It says that the in-store prices are consistent with the online prices. I was appalled. Just to give you one example from my own experience, I had to use the drug, Compazine, which helps prevent nausea in chemo patients. I used the generic equivalent, which cost $54.99 for 60 pills at CVS. I checked the price at Costco, and I could have bought 100 pills for $19.89. For 145 of my pain pills, I paid $72.57. I could have got 150 at Costco for $28.08.
I would like to mention, that although Costco is a “membership” type store, you do NOT have to be a member to buy prescriptions there, as they are selling a federally regulated substance. However, in lieu of a Costco card – with which to gain entry into the store – you just tell them at the door that you wish to use the pharmacy, and they will let you in. I am asking each of you to please help me by copying this letter, and pasting it into your own email, and send it to everyone you know with an email address.