New Study Finds Massive Increase In Dermatological Drug Prices In US

Posted: Nov 26 2015, 6:36am CST | by , in Latest Science News


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New Study Finds Massive Increase in Dermatological Drug Prices in US
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  • Astronomical Rates of Dermatological Drugs in the United States in Recent Years

The rates of dermatological drugs have reached astronomical proportions in the United States in recent years.

Many drugs given for skin ailments over the past few years in the US have very high price tags. This phenomenon has been extant over the past half a dozen years or so and it is showing no signs of abating. The budgets of ordinary folks have been stretched to bursting point by these pricey drugs.

The study was carried out in Florida. A total of 19 medicines were put underneath the economic microscope. The rise in price tags went from 60% to a whopping 1698%. This is approximately 400% an increase which is quite significant a find.

It came as quite an eye opener. The prices were tallied with the pharmacies that sold the drugs and it appeared such was the case. Drugs prices are a controversial matter. Turing Pharmaceuticals raised the price of a drug by 5000% recently leading to outrage among consumers.

But now it is planning to reduce the cost for the sake of patients in hospitals. As insurance companies back off from consent to cover the costs, most Americans have to pay for these medicines - which fleece - them from their own private bank accounts. And it can stretch one’s budget till there is nothing left to survive on except food stamps.

One in five Americans have refused to take a drug for their skin problems due to the steep price. Several pharmacies had their staff questioned regarding this trend. A 100 drugs were analyzed and finally 19 got selected.

These drugs were for skin cancer, infectious diseases, acne, rosacea, psoriasis, itching and eczema. The prices of these medicines multiplied by fourfold over the period of time that the study lasted. This was simply shocking.

Cancer medicine increased by $11,000 per annual basis. It showed the biggest spike in drugs. Drugs for infectious diseases showed the least rise in price. Their prices increased by $334 per year.

Between 2011 and 2014 the various drugs had their prices skyrocket till they became simply unaffordable by the common man on the street. The assumed premise is that the hyper-inflation may be due to the fact that the medical establishment can do as it wishes without having to face any consequences.

And while most insurance companies can negotiate prices with pharmaceutical agencies, mostly their hands are tied. What we are looking at is the total bankruptcy of health care as we know it. And it is a tragic and ugly fact. Pharmaceutical innovation is usually meant to drive prices down. Yet here we are seeing just the opposite happen right before our very eyes.

The study was published on Wednesday by the journal JAMA Dermatology.

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The Author

<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.




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