ASK THE PHARMACIST…about soaring drug prices
Question: Why do drug prices change without any warning, like the EpiPen increase of 400% overnight? Answer: Dramatic drug price increases can be devastating for patients when their insurance denies the drug and they can’t afford to pay out of pocket. The company that sells EpiPen has come under major scrutiny for their decision to jak up their prices, but they have a monopoly on the auto injector epinephrine dosage system. Since there is not other drug to compete they can set the price at $500 for a drug that cost about $1. Price increases can be a result of shortages, but it also can be a business strategy of pharmaceutical companies that acquire old drugs and promptly raise their prices to help their bottom line. Another example is Doxycycline, an antibiotic, that went form $20 a bottle to $1,849. Partner Care Pharmacy will alert our clients when drug prices soar without warning and offer an alternative therapy.