Trends in retail prices of generic prescription drugs widely used by older Americans, 2006 to 2020

Trends in retail prices of generic prescription drugs widely used by older Americans, 2006 to 2020

Collection:
Health Policy and Services Research
Series Title(s):
Rx price watch report
Author(s):
Schondelmeyer, Stephen W., author
Purvis, Leigh, author
Contributor(s):
Public Policy Institute (AARP (Organization)), issuing body.
Publication:
Washington, DC : AARP Public Policy Institute, August 2023
Language(s):
English
Format:
Text
Subject(s):
Aged
Drug Costs -- trends
Drugs, Generic -- economics
Prescription Drugs -- economics
United States
Genre(s):
Technical Report
Abstract:
On average, older Americans take 4.6 prescription drugs every month. Generic drugs have long been a means of helping consumers and third-party payers reduce prescription drug costs. While generic drugs now account for more than 90 percent of all retail prescriptions filled in the United States, they account for only 20 percent of total spending on prescription drugs. This report finds that, on average, retail prices for widely used generic prescription drugs declined between 2006 and 2020. The findings also highlight the unique pricing dynamics in the generic drug market when compared with those in the brand name drug market.
Copyright:
Reproduced with permission of the copyright holder. Further use of the material is subject to CC BY-NC-ND license. (More information)
Extent:
1 online resource (1 PDF file (23 pages))
Illustrations:
Illustrations
NLM Unique ID:
9918734067806676 (See catalog record)
Permanent Link:
http://resource.nlm.nih.gov/9918734067806676