Drugs for elderly turn costly, says study

The American Association of Retired Persons or AARP contended that the prices charged to wholesalers and direct buyers was high but the burden was not felt due to the Medicare program of the government. The study also found that the Medicare drug benefit and rising prices have made people switch to generics. But much of the savings resulting from the transition to generics were offset by the rise in prices of branded drugs.

According to the study, all but four of the 220 brand-name prescriptions experienced a rise in their wholesale prices. But the Pharmaceutical Research and Manufacturers of America disputed the AARP’s claims and said that drug prices of prescription drugs rose slowly compared to overall medical prices.