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Help with the cost of prescriptions - VERIFIED
October 29, 2006
3:13 am
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Zinnie
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September 29, 2010
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I rec'd this e-mail from a friend and many of you might find this helpful to you in helping out with the cost of your medications.

On Monday night (July 22), Steve Wilson, an investigative reporter for channel 7 News in Detroit, did a story on generic drug price gouging by pharmacies. He found in his investigation, that some of these generic drugs were marked up as much as 3,000% or more. Yes, that's not a typo . . . three thousand percent!

Mr. Wilson did a thorough research, and checked out all the major drugstore chains, discount chains, independent pharmacies, and even checked on some Canadian pharmacies. So often, we blame the drug companies for the high cost of drugs, and usually rightfully so. But in this case, the fault clearly lies with the pharmacies themselves.

For example, if you had to buy a prescription drug, and bought the name brand, you might pay $100 for 100 pills. The pharmacist might tell you that if you get the generic equivalent, they would only cost $80, making you think you are "saving" $20. What the pharmacist is not telling you is that those 100 generic pills may have only cost him $10!

At the end of the report, one of the anchors asked Mr. Wilson whether or not there were any pharmacies that did not adhere to this practice, and he said that Costco consistently charged little over their cost for the generic drugs. They gave the link to Costco, which I will include here, so that you can go and check prices for yourself. http://www.costco.com Costco Online pharmacy

I went to the Costco site, where you can look up any drug, and get it's online price. It says that the in-store prices are consistent with the online prices. I was appalled. Just to give you one example from my own experience, I had to use the drug, Compazine, which helps prevent nausea in chemo patients. I used the generic equivalent, which cost $54.99 for 60 pills at CVS. I checked the price at Costco, and I could have bought 100 pills for $19.89. For 145 of my pain pills, I paid $72.57. I could have got 150 at Costco for $28.08.

I would like to mention, that although Costco is a "membership" type store, you do NOT have to be a member to buy prescriptions there, as it is a federally regulated substance. You just tell them at the door that you wish to use the pharmacy, and they will let you in.

Additionally - I did check this out on http://www.snopes.com - here is the link if you would like to read a bit more:

http://www.snopes.com/medical/.....eneric.asp

I hope this will be helpful to you.

Z.

October 29, 2006
1:41 pm
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gracenotes
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Zinnie,

Thanks for posting this. I have the greatest of respect for Costco anyway. They treat their employees with respect, emplopyees earn good wages compared to other retail operations, they promote from within, and their CEO gives himself a reasonable salary (not the mega millions of other corporations) and is a hands-on kind of guy that really seems to care. I really need to join Costco to express how much I value this organization, plus enjoy some good savings.

And, that's wonderful that you found this information and also that Costco is offering good drug prices to anyone, not just their customers. I am part of an HMO right now, but, if that ever changes, and I am on my own, I will certainly go to Costco's pharmacy.

October 29, 2006
4:27 pm
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Rasputin
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Thanks Z for this very invaluable info. Sadly I don't use Costco a lot. However, I do buy generic meds most of the time. I tried several times the brand name - did not confide a lot in generic at 1st - but did not find a real great difference. So, now I am back to generic. And they really help to save on our bux, sometimes on great deal.

~Ras~

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