iLoveBenefits: Industry News Blog

Prescription Drug Prices Increased by 9.4% in 2013

AARP recently released a study on the pricing trends of 622 widely used prescription drugs. Here are some key findings from the report:

  • In 2013, the average cost of a drug was more than $11,000 per drug per year.
  • This cost is more than twice the average annual cost ($5,571) in 2006.
  • Retail prices for widely used prescription drugs increased by 9.4% in 2013.
  • The price increase was more than six times higher than the inflation rate of 1.5%.
  • Brand name and specialty drugs experienced price increases of 12.9% and 10.6%.
  • Generic drug prices decreased 4.0% in 2013.

Source: AARP, February 2016

March 8, 2016 | Categories: Cost,drugs,healthcare | Tags: , , , | Comments (0)

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