The New York Times (3/7, B2, Thomas, Subscription Publication) reports that according to a report released Tuesday by AARP, “the prices of drugs used most widely by older Americans rose by nearly 26 percent from 2005 to 2009 — nearly twice the rate of inflation.” The report found that “the increase happened even as the price of generic drugs, which account for the vast majority of prescriptions, has been falling in recent years.” Cheryl Matheis, AARP senior vice president for policy strategy, said that while the “country is contracting economically and inflation is…really low, inflation in the cost of prescription drugs is going in the other direction,” illustrating a trend the organization describes as “relentless because it just doesn’t seem to abate.” Meanwhile, pharmaceutical industry officials criticized AARP’s report, asserting that the increased availability of generic medications has curtailed the increase in medication prices.
Related Links:
— “AARP Study Says Price of Popular Drugs Rose 26%,”Katie Thomas, The New York Times, March 6, 2012.