Wyeth Pharmaceuticals - Price Gouging?
I have been taking Premarin for twenty odd years now for symptoms of menopause. It's a drug that has been in and out of favour at various times during it's long history. I have carefully with my physicians help assessed the risks and benefits. This drug has been around for fifty plus years, it's not new and not a lot of research money needs to be spent.
I refilled my prescription yesterday and was absolutely shocked at my bill. Instead of the 28 bucks I was expecting to pay for 90 pills, my bill was !24.00. Taking away the pharmacy fee this pill has increased in price from 0.14 cents per tablet to a whopping $1.24 a pill.
I called the company this morning and when I asked to speak to someone regarding drug pricing I was asked if it was about Premarin. Seems they have received so many calls they have set up a special line. Did they really think no one would notice or no one would call?
The very nice lady I spoke with gave me the following prepared statement which I'm sure she has memorized by now. There has been an "increase in cost in making the product" and "they had to increase the price in order to keep it on the market since there is now a higher demand".
I'm not surprised that there is a higher demand since there are a lot of women hitting menopause and since the drug is now back on the okay list. I guess Wyeth is taking this opportunity to make a lot of money.
Since I'm not satisfied with the answer I will continue digging, more to come...
Labels: Consumer Issues, Drugs
posted by Rositta @ Thursday, May 28, 2009
10 Comments:
Premarin was never intended to be a lifelong supplement. It was supposed to help those with severe symptoms of hormone decline adjust gradually. But then the docs and drug companies found out it was a cash cow and women could be convinced it was their ticket to the fountain of youth. I would recommend weaning off it gradually and putting up with a few hot flashes for a few weeks until your body assimilates its unmeddled norms. The symptoms will subside and you won't die really.
I haven't taken it, and was determined not to after my reaction to birth control pills.
Deb, it's not the hot flashes particularly that are an issue. I have gone off it once before and it created havoc with other parts of me. I understand price increases but not to that extent. It is gouging, pure and simple...
Wyeth must have lost money in other sectors, and as usual, they plan to take it out on the consumers.
That's just shocking. My parents take lots of meds and also pay incredible prices for them. Good for you for taking Wyeth to task and protesting.
Premarin is derived in part from mare urine, isn't it? I remember hearing something about PMU operations being affected by the whole 'oh noes, hormones bad!' thing a few years ago. I wonder if there are fewer farming operations set up as PMUs?
Heather, Premarin has been around since the 50's and is a much maligned drug. There is an increased risk of breast cancer if taken together with Progesteron. The drug has been either good or bad depending on the various studies. It's a choice each woman has to make with her doctor and I choose to take it. The benefits outweigh the risk in my instance. The price increase has not gone unnoticed by main stream media health reporters and there will be a follow up post soon.
Like you I take premarin and have for many years. I also tried to go off it but found I was plagued with all sorts of problems including depression. I don't have adequate insurance and wonder what can take it's place. I have tried the other plant estrogen and it doesn't help. Good for you. I am wondering if the regulations regarding drugs should be extended to any prescription drug regardless of patent.
Janet
I too have tried the herbal remedies to no avail. The thing with Premarin is that the patent has expired therefore the drug company can raise the price to anything they wish according to the Competition Bureau. Anytime another company tries to produce generic though, Wyeth seems to stop them.
I wasn't disputing your need to use the medication, though...just wondering if the economic fallout of the latest hormone scare might have caused some PMU farming operations to sell off their stock.
Quite possibly Heather, their reason for the price increase is increased demand. What bother's me is that they have been able to stop other pharma companies from producing a generic to keep a monopoly on this drug.
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