Express Scripts finds most used Rx drugs price hikes six times that of overall US inflation

The US Prescription Price Index shows that, since September 2011, price inflation for the most highly utilized brand-name medicines in the USA was more than six times greater than overall economic price inflation for consumer goods, according to Express Scripts (Nasdaq: ESRX) 2012 Q3 Drug Trend review.

Prices on a market basket of the most highly utilized brand-name medications increased 13.3% from September 2011 to September 2012, far outpacing the overall economic inflation level of 2.0%. During the same timeframe, prices of generic medications declined 21.9%.This 35.2 percentage point net inflationary effect is the largest widening of brand and generic prices since Express Scripts began calculating its Prescription Price Index in 2008.

"The patent cliff has fueled a growing price disparity between brand-name and generic medications," said Steve Miller, chief medical officer at Express Scripts, noting that "the trend emphasizes the nation's continued need for the tools we employ to help patients make better decisions, including generic use when appropriate."