generic drugs

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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.
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Has this happened to you lately? You go to refill one of your regular prescriptions at the pharmacy and the copay has gone up — a lot.
Average Annual Generic Drug Retail Price Declines by Year (chart)
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).
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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.
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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.
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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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By Ankita Rao, Staff Writer, Kaiser Health News
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By Alvin Tran of Kaiser Health News
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