News November

Generic Drugs Can Still Be On Pricey Side

Zoloft, Zocor, Pravachol and other big-name drugs are now available in generic form, meaning major savings for consumers. However, there is more to getting the best deal than buying generic.

Generic drugs are a lot cheaper than their brand-name versions. For example, a year's supply of the generic form of Prozac averages $433. Prozac averages more than $1,863. However, Consumer Reports says, despite big savings for generics, you can easily pay more than you need to.

"We did price comparisons at 132 pharmacies across the country. Those included drug store chains, independent pharmacies, mass merchants, supermarkets, as well as online pharmacies," said Dr. Marvin Lipman of Consumer Reports.

The price check covered five common generic prescription drugs.

"The range of prices for these five generic drugs varied widely at independent pharmacies, anywhere from $82 to $295," Lipman said.

The price differences at drugstore chains were significant. The median price for the five drugs at CVS was $116. The average price at Walgreen's was $157, while Rite-Aid's price was a little higher at $162.

Consumer Reports found that buying generic drugs online is often one of the best deals, but not always. Ordering from Cigna TelDrug's Web site turned out to be very pricey at $228 for the five drugs.

Costco stores had the best prices at $48 for the same five generic drugs. Even though Costco usually requires a membership, you do not need to be a member to shop either at its online pharmacy or at the pharmacy located in its stores. Wal-Mart charged more than twice as much as Costco for the five generic drugs.

Source http://www.wral.com/