Drug Prices

[Laura PourMeADrink]

Doing some research and trying to understand the complexities of prescription drug costs. Drug insurance plans (monthly premiums and co-pays) vs. buying outright. Needless to say, what an f'in mess our healthcare is in.

Let's just say, you want to buy Lipitor out of pocket walk-in. Lipitor is a statin to lower cholesterol and it's generic name is atorvastatin calcium

Found it amazing the differences in costs based on where you buy - if out of pocket:

“Big-box stores such as Costco and Walmart use the pharmacy as a traffic builder for their stores, whereas traditional chain stores, such as CVS, Rite Aid, and Walgreens, make the majority of their revenue and profits from the pharmacy,” says Stephen W. Schondelmeyer, Ph.D., Pharm.D., a professor of pharmacy economics at the University of Minnesota.

And, I know we hate them, but Walmart sells a statin..Lovistatin which lowers cholesterol for $10/90 day supply. Couldn't this work as well?

And why prices are so much higher in US than other countries?

According to a CNN report, the reasons are (

In other countries, the health system is simpler, there aren't as many organizations trying to buy drugs, so those groups can exert greater purchasing power and that can lower costs.

Because there are limited buyers in other countries, the pharmaceutical sellers have to be more sensitive to how much their customers are willing to pay, particularly if there is only one customer.

And, in the US...

One of America's largest provider of medications, the federal government-run Medicare cannot, by law, negotiate with pharmaceuticals. It's a facet of the law that both Democratic presidential candidates Hilary Clinton and Bernie Sanders argue needs to be changed.

In the United States "we don't have a central agency, governmental or NGO (non-governmental organization) that engages in comparative research that comes up with clear statements of drugs efficacies,"

On edit...adding links
http://www.consumerreports.org/cro/magazine/2013/05/same-generic-drug-many-prices/index.htm
http://www.cnn.com/2015/09/28/health/us-pays-more-for-drugs/