The costs of branded pharmaceutical drugs is far outpacing the economic inflation rate of 2 percent as prices jumped 13.3 percent from September 2011 to September 2012, according the 2012 Q3 Drug Trend Quarterly released by Express Scripts.
Meanwhile, generic medication prices have dropped 21.9 percent, widening the gap between brand and generic prices, the report finds.
"The patent cliff has fueled a growing price disparity between brand-name and generic medications," says Steve Miller, M.D., chief medical officer at Express Scripts. "The trend emphasizes the nation's continued need for the tools we employ to help patients make better decisions, including generic use when appropriate."
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