Based on the retail prices of 115 widely used specialty prescription drugs in 2013:
- Average annual cost for one specialty medication used on a chronic basis: $53,384
- Average annual cost was 18 times higher than the cost for brand name drugs: $53,384 vs. $2,960
- Average annual cost was 189 times higher than the cost for generic drugs: $53,384 vs. $283
- Average annual price increase was more than 7 times higher than inflation: 10.6% vs. 1.5%
AARP's Public Policy Institute, in collaboration with the PRIME Institute at the University of Minnesota, developed a group of 115 specialty prescription drug products most widely used by older Americans. Using data from the Truven Health MarketScan® Research Databases, the report analyzed retail price changes between 2006 and 2013 for these 115 specialty drugs.
- Rx Price Watch Report: Trends in Retail Prices of Generic Prescription Drugs Widely Used by Older Americans, 2006-2014
- Rx Price Watch Report: Trends in Retail Prices of Brand Name Prescription Drugs Widely Used by Older Americans, 2006 to 2013
- AARP Drug Compare Tool – Learn the difference and similarities between any two Rx or over-the-counter medications.
- AARP Bulletin article, "Feeling the Pain of Costly Prescription Drugs" (Jan/Feb 2015)