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MONDAY, Feb. 5, 2024 (HealthDay Information) — People pay almost 3 times as a lot for his or her prescribed drugs as residents of different nations do, new analysis reveals.
Drug costs in the US common almost 2.8 occasions these seen in 33 different nations, the report from RAND Well being Care discovered.
Model-name medicine are much more costly, with U.S. costs averaging 4.2 occasions these in comparable nations, the researchers added.
Then again, People obtain an actual discount in the case of unbranded generic medicine. These run about two-thirds (67%) the common worth present in comparable nations.
“These findings present additional proof that producers’ gross costs for prescribed drugs are greater within the U.S. than compared nations,” mentioned lead researcher Andrew Mulcahy, a senior well being economist at RAND.
“We discover that the hole is widening for name-brand medicine, whereas U.S. costs for generic medicine at the moment are proportionally decrease than our earlier evaluation discovered,” Mulcahy added in a RAND information launch.
Generics account for 90% of prescribed drugs offered in the US, the researchers famous.
For the report, researchers in contrast U.S. drug costs to these of 33 different nations within the Group for Financial Co-operation and Improvement (OECD).
Throughout all the OECD nations studied, whole drug spending was $989 billion in 2022, outcomes present.
The US accounted for 62% of the cash paid to drug corporations, however solely 24% of the entire medicine offered.
U.S. drug costs ranged from 1.7 occasions costs present in Mexico to greater than 10 occasions costs in Turkey.
The evaluation relied on producer’s gross costs for medicine as a result of internet costs — what is definitely charged after negotiated rebates and reductions — will not be systematically out there.
Nevertheless, estimates that tried to account for these reductions discovered that U.S. costs for brand-name medicine are nonetheless greater than 3 times greater than these in different nations.
Retail prescription drug spending in the US elevated by 91% between 2000 and 2020, and spending is predicted to extend 5% a yr by way of 2030, researchers mentioned. Pharmaceuticals now account for greater than 10% of all well being care spending in the US.
Extra data
KFF has extra about prescription drug costs.
SOURCE: RAND Well being Care, information launch, Feb. 1, 2024
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