GRAND RAPIDS, Mich. — Many consumers know that generic drugs are usually the way to go to cut costs on prescriptions. But what they may not know is that there can be price differences within generic drugs themselves.
For example, someone who suffers from Chron’s disease may need an FDA-approved drug to treat their symptoms. The net cost of Inflectra is $960 per 30 days, whereas Stelara is $9,450 per 30 days. The FDA has approved both drugs for the same purpose, and studies do not show that one is preferred over the other.
Erica Clark, Director of Clinical Pharmacy at Priority Health,talks about the many factors that are contributing to rising drugs costs, including:
- Increased FDA approval
- The entrance of high-cost specialty drugs into the market
- Higher entrance prices for non-specialty brand medications
- Significant price increases on drugs already established in the market
The high cost of some generic drugs is due in part to manufacturing consolidation and manufacturing exclusivity.
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