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A recent report by ConsumerReports.org looked at five common reasons for the unnecessarily high costs of certain medications in the U.S. and found that brand price increases, prescribing new formulations of the same drug, failure to prescribe generic medications, inconsistent pricing by pharmacies and manufacturer discount programs were common factors that lead to high drug prices.
Winnipeg, Manitoba January 29, 2013
A recent report by carried out by ConsumerReports.org, an expert, independent, nonprofit organization whose mission is to work for a fair, just, and safe marketplace for all consumers, found that Americans are skipping medications because they simply can’t afford them. It also found that seniors on Medicare Part D are paying higher premiums for expensive brand name products. To highlight the common sources of high drug costs the report analyzed drug-pricing data from nearly 49 million prescriptions filled over the past five years. Consumer Reports found that in the 5 years before a generic version of a brand drug became available, some drug manufacturers increased drug prices as much as 100% to bolster profits before generic availability decreased demand for their brand name drug. The report recommended consumers ask their doctor if a generic version of their medication is available.
In a response to this report David Zimmer, President of TheCanadianPharmacy.com, an online Canadian pharmacy, stated “The report by ConsumerReports.org offers some great advice. We deal with 1000’s of American consumers every year who simply can’t afford the essential but expensive medications they have been prescribed. We are in a position to help. In most cases these same products are available in Canada at substantial discounts through our government-controlled pricing. In most cases Canadians have access to generic versions of brand name products long before the U.S.”
The report made further key recommendations to help consumers avoid high drug costs. Citing a 2011 Consumers Report poll, the report indicated nearly half of their respondents say doctors don’t consider the cost of medications when prescribing. As such, ConsumerReports.org advised consumers to discuss the affordability of their prescriptions with their doctor to determine if a suitable but more cost effective option is available. One area where this advice was particularly apt was in comparing new formulations of the same drug. New drugs that offered increased dosing convenience or different ways to take the same medication were in some cases found to be significantly more expensive.
Finally the report advised consumers to shop around pharmacies as prices vary considerably and to avoid drug manufacturer discount coupons and “freebies” that are designed to “capture interest and retain or expand the companies’ market share”. David Zimmer of The Canadian Pharmacy added “We would encourage anyone struggling with the cost of their medications to shop around both with their local pharmacies and online through CIPA verified pharmacies such as The Canadian Pharmacy.”
The Canadian Pharmacy has been providing its customers significant cost savings on their medications for over 10 years. As a CIPA verified online Canadian pharmacy and international prescription service The Canadian Pharmacy provides substantial savings on the cost of prescription medications.
About The Canadian Pharmacy:
Located in Winnipeg, Manitoba, The Canadian Pharmacy employs a dedicated team of licensed and experienced pharmacists, physicians, technicians, and customer service representatives to provide our customers with any and all information they may desire about their medications and their suggested use. The Canadian Pharmacy is a Member of the Canadian International Pharmacy Association (CIPA), the Manitoba International Pharmacist’s Association (MIPA), is a 5-Check Rated Pharmacy by PharmacyChecker.com and a member of the Better Business Bureau.
The Canadian Pharmacy’s mission is to provide safe, affordable access to high quality pharmaceutical products and services.
Read our full press release at PRWeb.com