AARP Report: Generic Drug Price Trends

Here are some key findings from the recent Rx Price Watch Report by AARP Public Policy Institute:

·         Over 75% of all retail prescriptions filled in the US are for generic drugs.

·         The average annual cost for a generic drug used for a chronic condition is $283.

·         Retail prices for generic prescription drugs widely used by older Americans fell an average of 4% in 2013.

·         Almost three quarters (73%) of widely used generic drugs included in the study had price decreases.

·         27% of generic drugs had retail price increases.

·         11 drugs had retail price increases of greater than 30%.

Source: AARP, May 28, 2015