U.S. Brand-Name Drug Prices Dramatically Increased in 2010, According to New Report
March 11, 2011
By Gabriel Levitt and Margaret Rode
Last August AARP published an analysis stating that in 2009 brand-name drug prices increased by over 8%. Disturbingly, new data shows that from 2009 to 2010, in the Rochester region of upstate New York, brand-name drug prices increased by a devastating 11%, almost seven times the average inflation rate of 1.6%.
The report, published by Excellus BlueCross BlueShield, the largest health insurer in the Rochester area, also finds that brand name drug prices increased by 93% between 2004 – 2010. This data explains why the number of Americans not taking their medication due to cost – 25 million – has almost doubled over the past ten years, a very sad state of affairs for America. Read more