Generic drug prices quickly on the rise

DEAR DOCTOR K: A generic drug I’ve been taking for years suddenly became much more expensive. I can’t afford the new price. What can I do?

DEAR READER: Prices of generic versions of some commonly prescribed drugs have been skyrocketing. Like you, many of my patients have been affected.

I spoke to Dr. Ameet Sarpatwari, an instructor at Harvard Medical School and an epidemiologist at Harvard-affiliated Brigham and Women’s Hospital. He noted that, fortunately, the price of most generic drugs remained constant between 2008 and 2015. However, almost 400 generic drugs saw whopping price increases of more than 1,000 percent.

Why are some generic drugs so expensive? A generic drug was developed long ago, as opposed to new developments. So what reasons might explain the remarkable rise in the price of some generic drugs?

One good reason is it can be difficult and expensive for a manufacturer to get a generic drug to market. In 2014, it took the Food and Drug Administration an average of 42 months to process a generic drug application. Compare that to an average of eight months for a standard new drug application.

Then, there are several bad reasons:

The market for some generic drugs is so small just one company makes a drug. Without competition, that company has less restraint on the price.

There is an ongoing wave of market consolidation within the pharmaceutical industry.

Another reason competition can temporarily decrease is when, say, two companies make a generic drug and one of them has manufacturing problems that force it to temporarily stop production.

What to do? First, when your doctor recommends a drug for you, ask about its cost. In certain situations, an alternative drug that has a similar mechanism of action might be safe. Websites such as www.GoodRx.com offer tools to compare the price of medications in your area. Drug discount programs may help.

Finally, contact your local elected representatives.