U.S Drug Prices Increase at Twice the Rate of Inflation in 2012 While Other Health Costs Remain Steady

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In 2012 U.S. drug prices rose 3.6%, more than double the 1.7% annual rate of inflation. The main driver of this is believed to be increases in the cost of brand name drugs; The Canadian Pharmacy reminds us there are alternatives.

Prescription Drugs
We feel fortunate to be in a position to help our customers obtain the medications they require at affordable prices. These same medications in Canada usually sell for half the U.S. retail price.

The Annual Report of The United States Bureau of Economic Analysis on the cost of major consumer spending categories indicates the increase occurred despite significant savings from greater overall generic medication usage. The increase also occurred despite a decrease in health care costs such as doctors visits and lab tests which fell below the rate of inflation in 2012. The overall increase in drug prices is attributed to significant increases in the cost of top selling brand name drugs such as Nexium, Abilify and Crestor, which in 2012 saw price increases of 7.8%, 10.4% and 9.8%, respectively.

Those who were adequately covered by a prescription drug plan may not have felt these significant price increases; however, the affordability of health insurance as well as insurance coverage gaps are common challenges throughout the U.S. A study released by CVS Caremark last October indicated that affordability is the number one reason Americans skip their medications, a definite cause for concern with The National Consumers League (NCL). The NCL identified poor medication adherence as "a problem that causes more than one-third of medicine-related hospitalizations, nearly 125,000 deaths in the United States each year, and adds $290 billion in avoidable costs to the health care system annually".

“The affordability of prescription medication is a constant battle in the U.S. Our neighbours to the south are already financially strapped. We feel fortunate to be in a position to help our customers obtain the medications they require at affordable prices. These same medications in Canada usually sell for half the U.S. retail price,” stated David Zimmer, President of TheCanadianPharmacy.com.

The Canadian Pharmacy has been providing its customers significant cost savings on their medications for over 10 years. As a CIPA certified online Canadian pharmacy and international prescription service The Canadian Pharmacy provides substantial savings on the cost of prescription medications.

About The Canadian Pharmacy:
Located in Winnipeg, Manitoba, The Canadian Pharmacy employs a dedicated team of licensed and experienced pharmacists, physicians, pharmacy technicians, and customer service representatives to provide our customers with any and all information they may desire about their medications and their suggested use. The Canadian Pharmacy is a Member of the Canadian International Pharmacy Association (CIPA), the Manitoba International Pharmacist’s Association (MIPA), is a 5-Check Rated Pharmacy by PharmacyChecker.com and a member of the Better Business Bureau.

The Canadian Pharmacy’s mission is to provide safe, affordable access to high quality pharmaceutical products and services.

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David Zimmer
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