According to a report from the Independant Institute of Oakland, California, The Pharmaceutical Industry claims the average cost of marketing a new drug is $800 Million dollars because of the need of years of research, animal and human trials and FDA approval before they can begin to retieve that cost.
At the same time, Congress is struggling to find a way of reducing the price of medicines for welfare recipients and seniors whose annual income falls below an agreed upon level. A solution will be complex and expensive.
In the mean time, people should shop around for the best price for their drugs as they do for other major purchases. Prices in your area may differ by 20 to 30 percent depending on the drug store they use. Discounts may be available from the Drug company that produces your medicine, write and ask. Be careful of drugs obtained from Internet sources, by mail order, or from Email pharmacies.
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Generic medicines are an alternative but by law can vary from the stated dosage by a considerable percentage. The name brand drug must be exact. Exact dosages are important for the treatment of Diabetes, heart disease or mental disaorders. These patients should consult with Doctor before using generic substitutes.
Further information on prices of drugs can be obtained from AARP by calling 1-800-424-3410; or Health Insurance Counselling and Advocacy Program [HICAP] at 1-800-434-0222 or the Department of Health Services at 1-916-657-4302.
The cost of looking around may be easily recovered by the savings that one is likely to realize.