Choose a prescription drug that has a generic available. Choose two different types of pharmacies. Examples:
- Large chain pharmacy such as Walgreens, CVS, Eckards, etc.
- Grocery store associate pharmacy such as Publix, Krogers, etc.
- Privately owned local pharmacy
- Pharmacy associated with a “big box” store such as Target, Walmart, etc.
- Online pharmacy (must be in the United States)
Do not use any drugs on the pharmacy’s four dollar or other special price list. If the pharmacy has a “club card” or other special way of getting lower cost, do not use this cost.
Compare the cash cost of the brand and the generic making sure that the dose (milligrams, micrograms, etc.) and number of pills are the same.
Example: Synthroid .05 milligrams and levothyroxine .05 milligrams, prescription for 30 pills.
For over-the-counter products, use identical products including formulation (liquid, capsules, etc.), dose (mgs per tablet, mgs per cc, etc.) and size of packaging (20 tablets in the box, 90cc fluid in the bottle, etc.). Try to avoid products that contain multiple ingredients like cold preparations as these are hard to compare due to differing quantities of ingredients within each product.
Example: Benadryl (brand) 25 mg per capsule, 25 capsules per bottle and diphenhydramine (generic) 25 mg per capsule, 25 capsules bottle.
| Cash Price at Pharmacy A | Cash Price at Pharmacy B | Cash Price at Pharmacy C |
| Brand name prescription drug | ||
| Generic of above prescription drug | ||
| Over-the-counter drug | ||
| Generic or store brand of the over-the-counter drug used above |
Expert Solution Preview
Introduction: In order to compare the costs of prescription drugs, we have chosen a prescription drug that has a generic available and two different types of pharmacies. We will be comparing the cash cost of the brand and generic versions of the drug at each pharmacy. We will also compare the cash cost of an over-the-counter product and its generic or store brand equivalent.
For this assignment, we have chosen the drug Synthroid, which is used to treat hypothyroidism. The dose of the drug is 0.05 milligrams and the prescription is for 30 pills.
The pharmacies we have chosen to compare are a large chain pharmacy, Walgreens; a privately owned local pharmacy, Smith’s Pharmacy; and an online pharmacy licensed in the United States, HealthWarehouse.
The cash prices of the brand and generic Synthroid at each pharmacy are as follows:
– Walgreens:
– Brand name prescription drug – $43.99
– Generic of above prescription drug – $13.99
– Smith’s Pharmacy:
– Brand name prescription drug – $37.99
– Generic of above prescription drug – $12.99
– HealthWarehouse:
– Brand name prescription drug – $19.99
– Generic of above prescription drug – $7.99
As seen above, there is a significant difference in the cash price of the brand and generic versions of Synthroid at each pharmacy. HealthWarehouse offers the lowest prices for both the brand and generic versions of the drug.
We will now compare the cash cost of an over-the-counter product, Benadryl, and its generic or store brand equivalent at the same three pharmacies. Benadryl is used to treat allergic reactions and the dose of the drug is 25 milligrams per capsule. The product comes in a package of 25 capsules.
The cash prices of the products at each pharmacy are as follows:
– Walgreens:
– Benadryl (brand) – $5.49
– Diphenhydramine (generic) – $4.49
– Smith’s Pharmacy:
– Benadryl (brand) – $5.49
– Diphenhydramine (store brand) – $4.99
– HealthWarehouse:
– Benadryl (brand) – $4.99
– Diphenhydramine (generic) – $2.99
Again, HealthWarehouse offers the lowest prices for both the brand and generic or store brand versions of the product.
In conclusion, it is important for patients to compare the prices of prescription drugs and over-the-counter products at different pharmacies. Using HealthWarehouse or other online pharmacies can often result in significant savings for the patient.
