Generic Prescription Drug Prices Drop 7.8 Percent

A new report from AARP’s Public Policy Institute found the price of generic prescription drugs fell by 7.8 percent in 2009 and, on average, retail prices for generic drugs are down 35 percent over five years. During the same period, general inflation increased 13.3 percent and, in 2009, the price of brand-name drugs rose by an average of 8.3 percent. The AARP Public Policy Institute has been tracking price changes for the prescription drugs most widely used by Medicare beneficiaries since 2004 and uses retail prices as its primary data source. More here.

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