Generic Drugs Don't Necessarily Mean Low Prices

NewsHour Weekend's Megan Thompson reports on the surprising disparity in pricing for generic drugs. Generics, generally thought to be cheap, can actually vary widely in price from pharmacy to pharmacy, causing some to skip medications altogether.

Transcript

MEGAN THOMPSON:  Carol Thompson of Edina, Minnesota, was diagnosed with breast cancer in 2009.  For part of the year, she paid more than $400 a month out-of-pocket for her brand-name drug because of her insurance plan’s high deductible.   A couple years later, after the drug, called Letrozole, went generic, the price dropped dramatically:  to around $10 at her local Costco.   Always looking for an even better deal, she decided to ask another big chain about its retail price.

CAROL THOMPSON:  The gentleman looked it up and he came back to me with a price of around $400. And I said to him, "Oh can't be.  You must be looking at the brand name drug.  It can't be that expensive..."