Drug Prices Vary Up to 426%!

The president of Arlington, Va.-based senior lobbying group 60 Plus Association said the group found "astonishing variations" in retail drug pricing throughout the United States

James L. Martin said the association's October survey in Florida found similar results in New Hampshire, Missouri and other states.

"If seniors simply call several pharmacies before they buy prescription drugs, they can save up to $70 per month per prescription," he said. "For seniors, many of whom are on multiple prescriptions, this means hundreds of dollars a month and thousands of dollars per year in savings."

Martin said the study found price differences in brand name and generic drugs. He said pricing on generic drugs varied more widely than the price differences on brand name drugs. For a 30-day supply of leading brand name drugs, Martin said seniors could save from 50 percent to 200 percent by checking prices at multiple pharmacies. For example, he said the lowest price at a Miami pharmacy for osteoporosis drug Fosamax was $34.49 and the highest price was $95, a difference of $60.51, or 175 percent. Other brand name drugs included in the study were heartburn drug Prilosec, cholesterol drug Lipitor, arthritis drug Celebrex and depression medication Paxil, all of which had price differences ranging from 44 percent to 130 percent in Miami.

For generic drugs, the price range for thyroid drug levothyoxine in Miami was from $3.99 to $21, a $17.01, or 426 percent difference, according to the study. For the other generic drugs studied, beta blocker atenolol, diuretic furosemide, heart drug digoxin and diabetes drug metformin, the Miami price differences ranged from 196 percent to 327 percent.

60 Plus said The Dominion Group, an independent national research firm, conducted its study. The drugs examined, the group said, were selected from a listing of the top 50 most frequently prescribed drugs for seniors as published in a report by Families USA. All prices compared a 30-day supply of the medication and 60 Plus said pharmacies included CVS, Wal-Mart, Costco, Target and Publix, as well as local pharmacies in Miami and Jacksonville.