Brand name prescription medications increase in cost

For those in their retirement living years, a monthly trip to the pharmacy may be status-quo. However, a new study has shown that seniors may want to ask their doctor for generic medications only.

According to a study conducted by the AARP Rx Watchdog Report, the cost of the most common brand name medications used by those on Medicare are on the rise.

Brand name prescription medications increase in cost

The study showed that Aricept, an Alzheimer's drug, rose by nearly 14 percent, and Plavix, a heart disease medication, jumped by 10.5 percent. Factors such as inflation did not play a role in rate increase.

Still, a spokesman for the drug industry didn't hesitate to challenge the findings.

"The report's conclusions ignore the reality that prescription medicines represent a small and decreasing share of growth in overall health care costs in the United States," Ken Johnson, senior vice president of the Pharmaceutical Research and Manufacturers of America, told the news outlet.

According to the Kaiser Family Foundation, U.S. spending on prescription medication reached over $216.1 billion in 2006.

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