Generic drugs increase in price by up to 30% in USA, report finds

Popular generic drugs in the USA had substantial price increases between 2006 and 2013, with some prices going up as much as 1,000%, according to a new Rx Price Watch Report from AARP Public Policy Institute (PPI).

The report, Trends in Retail Prices of Generic Prescription Drugs Widely Used by Older Americans: 2006 to 2013, looked at the 2013 retail prices for 280 of the generic drugs most widely used by older Americans. The report shows that the majority (73%) of widely used generic drug products included in the study experienced price decreases, some of them substantial. Overall, retail prices for generic prescription drugs widely used by older Americans fell an average of 4% in 2013, the smallest average annual decline since at least 2006, a sign that the era of falling prices for generic drugs could be coming to an end.

Debra Whitman, AARP executive vice president for policy, said: “Declining generic drug prices have helped many Americans' pocketbooks, particularly older adults on fixed incomes. Unfortunately, recent trends indicate that we may not be able to rely on these savings forever.”