GAO Finds Prescription Drug Costs Rising More Than Other Medical Goods

Retail prices for brand-name drugs increased much more rapidly than for generic drugs between 2006 and the first quarter of 2010, according to a report by the Government Accountability Office (GAO). On average, the retail price index rose 8.3 percent a year for brand-name drugs, while prices for generic drugs actually declined by 2.6 percent. Overall, retail prices for 100 commonly used brand-name and generic drugs rose at an average annual rate of 6.6 percent during the time period. This compares with a 3.8 percent average increase in the consumer price index for medical goods and services, the report says.
Drug Industry Daily