THE LINK BETWEEN RISING DRUG PRICES AND OLD PRODUCTS
- January 16, 2019
Steady increases in drug prices are not new factors in our society. Every time we turn around, medications seems to be becoming costlier and costlier and far more intricate in purpose. However, did you know that we not only have to pay more for newer medications (as expected) but also spend more money on existing medications? According to a recent study conducted by researchers at the University of Pittsburgh and the UPMC Center for High-Value Health Care reveal that new drugs do drive up market prices, but the prices on old drugs are also skyrocketing. While the former is understandable, why do we have to keep paying more for drugs that were created decades ago? What is the ultimate purpose? Let’s take a closer look at the link between drug prices and older products.
A Bizarre Turn of Events
Based on the report (featured in Health Affairs this January), products that accounted for the largest increase in overall costs were new products. Dr. Inmaculada Hernandez (the study’s lead author and an assistant professor at the Pitt School of Pharmacy) has explained how this pattern is expected, due to the simple fact that new drugs require more funding for tests and safety measures. However, as she has pointed out, this increase in the costs of older materials is not a sign of improvement. Higher costs do not reflect a better value for existing drugs.
A Gradual Increase
In the study, Dr. Hernandez and her team discovered the brand-name oral medication costs increased by an estimated 9% (5 time greater than the rate of inflation), while brand-name injectable costs increased by about 15%. As an example, Sanofi’s Lantus brand insulin’s price was 49% higher in 2014, even though this drug has been available for well over 10 years. (Even the patent for Lantus officially expired in 2015.) Here is a closer look at additional spikes in existing drug costs:
- 21% increase for specialty oral drugs
- 13% increase for specialty injectables
- 4-7% increase for generic drugs
Seeking Treatment for Drug Abuse and Addiction
Always remember that drugs can never have control of your life unless you let them. Only you have the power to take the first steps toward creating a better life. No chemical in the world (no matter how strong it may be) can ever permanently ruin your life. If you are suffering from a form of drug abuse or addiction or have a friend or loved one who is suffering from this problem as well, get in touch with Asana Recovery today. Our professional team of counselors and healthcare experts will help you endure the painful process detox and withdrawal and guide you through each step of the rehabilitation process to help you separate yourself from the drugs that are dominating your life.
If you want to find out more about our residential treatment or supervised detoxification/withdrawal programs or enroll in one of these programs today, we are ready and waiting to speak with you at your leisure and your disclosure. Call Asana now at (949) 438-4504 to learn how you can successfully overcome your drug use disorder today.