Sick and tired of high drug costs? You're not alone. Americans spend more than 150 billion dollars per year on pharmaceuticals, and with costs rising all the time, many are looking to generic alternatives. These products promise the same benefits as their name-brand equivalents, but at a fraction of the cost. When considering something as important as your personal health, do generic drugs measure up?
With generics, you get the same medicine as the brand name drugs with the same results, but at much more affordable costs. Generic medicines cost 30% to 80% less than brand medicines. According to the National Association of Chain Drug Stores, in 2006, the average retail price of a generic prescription drug was $32.23. The average retail price of a brand name prescription drug was $111.02.*
What accounts for the cost differences?
Generic companies do not have large advertising and marketing budgets and sales forces, so those costs are not passed on to consumers.
Studies have shown that with lower cost generics, patients are more likely to maintain their treatments and avoid hospital stays. This saves patients and the health care system billions of dollars each year and leads to better treatment and improved health.
Next Argument
0
0
0
0
0
0
0
Biweekly updates on new debates and experts
Please check your email to confirm your subscription.
© 2008-2010 Opposing Views, Inc. All Rights Reserved.
Opposing Views, Inc. is not responsible for the content posted on this website. Please view full disclaimer under Terms
Expert Verified
Link
