These 20 Drugs Saw Their Price Increase 10 Times the Cost of Inflation

A recently released governmental report, investigating how prescription drug prices are increasing, shows that many of the most popular brand-name drugs increased at nearly ten times the cost of inflation, from 2012 to 2017.

The investigation includes 20 of the most common brand-name medications that seniors take.

The 20 Drugs in Question

These medications include Advair Diskus, Crestor, Januvia, Lantus/Lantus Solostar7, Lyrica, Nexium, Nitrostat, Novolog, Premarin, Proair HFA, Restasis, Spiriva Handihaler, Symbicort, Synthroid, Tamiflu, Ventolin HFA, Voltaren Gel, Xarelto, Zetia, and Zostavax.

These medications are the 20 most-popular brand name drugs in the Medicare Part D program.

The average price increase for these drugs was 12 percent, every year for the last five years. That is ten times higher than the average annual inflation rate.

Xarelto, by the Numbers

Xarelto, a drug that treats blood clots, saw its number of prescriptions increase from 1,078,207, in 2012, to 9,593,823 in 2017 – that’s a change of 790 percent. Its price also saw an increase from $258.82, in 2012, to $449.51 in 2017. That big of an increase wasn’t really seen across the board though. The overall percentage change, of prescription fills, for these 20 medications actually fell by 33 percent.

Price increases, for the 20 prescription drugs in this study, ranged anywhere from 31 percent to 477 percent, between 2012 and 2017. An example is Nitrosat’s price, which saw an increase of 477 percent, or from $15.91 to $91.76. Many of the other medications actually saw an increase between 50 to 100 percent.

Why would there be a decrease in the number of times the top 20 drugs have been prescribed?

The reason you would see a decrease in the number of prescriptions, for these 20 drugs, could be for a variety of reasons. It could be due to generic or brand alternatives becoming available. Though a brand version is still available, once the medication goes generic, the majority of consumers begin filling the brand version less.

So, what can you do to lower the cost of your medications?

Fill the generic version first

One of the easiest ways to lower the cost of your medication is to make sure you are filling the generic version first. Out of the 20 medications named in the report, six of them have a generic alternative. Just by filling the generic version of these medications, you can save a significant amount of money.

Six Medications Listed in the Report that Have a Generic Alternative

1. Crestor (Generic is Rosuvastatin)
2. Nexium (Generic is Esomeprazole)
3. Synthroid (Generic is Levothyroxine)
4. Tamiflu (Generic is Oseltamivir)
5. Voltaren Gel (Generic is Diclofenac)
6. Zetia (Generic is Ezetimibe)

Compare Prices & Get Coupons

By comparing prices and getting coupons for your medications, you can save a significant amount of money. Drug prices vary by pharmacy location. This means that searching prices, using comparison tools, can help you identify drastic price differences from pharmacies across the street from one another. Valuable information, since in some cases, crossing the street could save you 50 percent on your medication’s cost.

Take an Extra Minute to Compare Prescription Prices

Simply put, prescription drug prices are a rising concern among consumers. That being said, with a few simple steps, you can make sure you are getting the lowest price possible. Never approach the pharmacy counter without researching the price of your medication first.