Thanks to drug manufacturer price hikes, the average cost for a year's supply of a prescription drug has jumped to more than $11,000, or about 75 percent of the average annual Social Security retirement benefit and half the median income of someone on Medicare.
En español | Prices for generic drugs most commonly used by older Americans fell by the smallest percentage since 2006, with 1 in 4 rising in price — some by more than 1,000 percent, according to a new report from AARP’s Public Policy Institute (PPI).
For decades, doctors, drug companies and the Food and Drug Administration have assured us that low-cost prescription generic drugs - which make up an estimated 80 percent of the prescription medicines we take - work just as well as the costlier brand-name drugs they mimic.
Deals between brand-name drugmakers and their generic drug competitors that keep cheaper products off the market might illegally prevent competition, the U.S. Supreme Court ruled June 17.
If you owned the bestselling prescription drug of all time and its patent was about to expire, how would you prepare for competition from generic drugs?
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