Click to enlarge. Source: Express Scripts. H/t: Michael Ramlet. (There will not be a TIE chart of the day every day.)
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Chart of the day: brand vs. generic drug price growth
November 29, 2012 at 12:00 pm
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by steve on November 29th, 2012 at 21:40
And this is w/o any new blockbusters coming out for the most part.
Steve
by David J. Littleboy on November 30th, 2012 at 03:23
FWIW, and as you might expect, Japan is very aggressive about switching to generics as soon as they are available. And is very upfront about telling the patient; the pharmacy that fills my prescription is appologetic about charging me (my 30%; insurance covers the other 70%) for non-generics, explaining that they’ve switched to a generic of this but that a a generic version of that isn’t out yet. (I mention this because I understand that there’s some fine print in Medicare that prevents a switch to generics in some cases.)
by Scott Supak on December 4th, 2012 at 17:19
I just sent this to Dean Baker. I hope his head doesn’t explode.
The fact that the people who missed the largest asset bubble in history are now paid to tell us that extended patent protections are a good thing is a tragedy, It’s certainly not “free markets” or a meritocracy.
by Saumil on December 17th, 2012 at 09:13
Woha , A miracle medicine is one which is of same price as it was last year, and look at generics medicine they are cheaper then what they were last year!!!!