Older U.S. Residents on Average Paid 9.6% Less for Generic Prescription Drugs in 2007, AARP Study Finds

The manufacturer prices for 185 generic medications decreased by an average of 9.6% in 2007, according to a report recently released by AARP, CQ HealthBeat reports (Sowder-Staley, CQ HealthBeat, 5/16). According to AARP, the decrease marked the largest since at least 2003 (Bloomberg/Boston Globe, 5/16).

The report found that the manufacturer prices for 43 of the medications decreased by as much as 69.5% and that the price for only nine of the treatments increased. The manufacturer prices for the other 133 medications remained the same, according to the report. The diabetes medication metformin, the hypertension treatment lisinopril and the antidepressant mirtazapine had the most significant decreases in manufacturer prices, the report found.

AARP said that brand-name medications in many cases are no more effective than lower-cost generic treatments and recommended that patients ask their physicians or pharmacists about generic medications as a treatment option. Generic Pharmaceutical Association spokesperson Andrea Hofelich said, "Switching to generics offers the same medicine as the brands but at much lower prices," as generic medications can cost 30% to 80% less than brand-name treatments (CQ HealthBeat, 5/16).