Generic medicine prices rising

Generic medicine prices rising

TYLER (KYTX)-Prices for the once cheap generic drugs are spiking.

"Well it started about 18 months ago and the first drug that went through the roof was ddoxycycline" Pharmacist Brad Martin said. "A lot of people probably noticed that if they were paying cash for it. One day a bottle was costing us less than $100 for a bulk bottle and the next day it came in as over $2000."

And it hasn't stopped there, Martin says the drugs keep getting more expensive.

"A lot of these drugs that used to be very very cheap are now increasing in price and it's not doubling in price, it's ten twenty 100 fold in price so it's been quite a challenge for obviously the pharmacies and the customers," Martin said.

Customers with insurance don't feel the hit immediately, but Martin says they should expect a rise in their premiums.  

Shopper Beth Klein says that retired people like her can't afford the constant increases.

"With the drugs going up the older you get it seems like you need more drugs to get rid of the aches and the pains so that comes out of your budget and if you haven't planned well for your future then you're in bad shape," Klein said.

Martin says there isn't just one reason for the huge price jumps.

"It's varied from political to business to mergers and acquisitions to FDA cracking down on imports so it's a lot of stuff going on," Martin said.

There is a solution. Pharmacists say using small, independent pharmacies can keep medicine prices low.

"If you call an independent pharmacy and you're buying several prescriptions, I'll be happy to work with you, work with your budget," Martin said.

 As for Klein, she's trying to stay healthy so her bill doesn't keep rising.

"I hope I don't get any sicker because I don't want more than the bill I got today which was $150," Klein said.

Martin's advice to customers is to call all local pharmacies to find the best price.



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