Which prescription is right for you? Here are the best and cheapest drugs for 2017
A new report suggests the price of generic drugs could soon go up for a variety of reasons, with the most common being a lack of availability.
The report by the Australian Medical Association (AMA) said the number of generic drug applications in 2017 was up by 25 per cent, but it is also believed more Australians are choosing cheaper generic versions of existing brands.
The AMA’s 2017 drug strategy has seen a 25 per-cent rise in generic drug use, with a further 15 per cent increasing prescriptions for generic versions.
There are currently more than 12,000 generic drugs in the Australian supply chain.
The top five generic drugs, according to the AMA, are ibuprofen (75 per cent), acetaminophen (73 per cent) and naproxen (64 per cent).
“As we continue to evolve the generic drug system, the need for more generic drugs is increasing,” AMA Chief Medical Officer, Dr Fiona Patten, said in a statement.
The top generic drugs approved for sale in Australia are: ibuprile (ibuprofloxacin) (90 per cent of prescriptions) and oxycodone (78 per cent); naloxone (77 per cent)* and ephedrine (73.5 per cent. “
Patients need access to affordable, effective and reliable generic drugs that work.”
The top generic drugs approved for sale in Australia are: ibuprile (ibuprofloxacin) (90 per cent of prescriptions) and oxycodone (78 per cent); naloxone (77 per cent)* and ephedrine (73.5 per cent.
It is the second highest concentration of generic opioids, after oxycodones, at 5,816 per cent.)
This is the first time since the mid-1990s that the AMA has published an annual report on generic drugs.
The 2017 report, which includes figures on the total number of prescriptions filled, also includes a breakdown of the prices of the drugs.
There was an average increase in the price per prescription for ibuprife (from $1.79 to $1,861), ibupo (from 49 cents to $2.05) and nalixone (from 60 cents to 69 cents).
These are all significantly cheaper than generic versions available from generic companies.
The lowest price of ibupron and nalmoxone was $1 per day, and the highest price was $9.99 per day.
The cheapest generic drug for a one-day supply was $4.95 per pill.
These are only the most expensive generic drugs available in the market.
The most expensive generics are: acetaminone (99 cents per pill) and epycline (79 cents per dose).
The cost of these drugs was $8.80 per pill and $5.70 per day respectively.
The number of prescription medicines for each category is displayed in the table below: *A price increase of 20 per cent in the year ended December 2017.
Source: AMA drug strategy The AMA report also says generic drugs are becoming more popular with Australians.
A total of 539,000 prescriptions were filled for ibups in 2017, up from 622,000 in 2016.
This is an increase of 25 per, per cent compared to the year before, but only 2 per cent more than the previous year.
The overall number of ibups sold has also increased by more than 15 per, to 1.3 million, compared to 917,000 last year.
“This is a positive sign for generic drugs but there is an opportunity for the supply chain to increase production and lower prices,” Dr Patten said.
It is believed the increase in prices of generic versions is largely a result of a lack in competition in the global pharmaceutical market, and increased pricing pressure from China. “
The AMA’s generic drug strategy should ensure that new and cheaper generic medicines are available for all Australians.”
It is believed the increase in prices of generic versions is largely a result of a lack in competition in the global pharmaceutical market, and increased pricing pressure from China.
“Chinese companies are aggressively pursuing the acquisition of global generic drugs to gain access to market share,” Dr Paten said in the AMA report.
“We know that China’s domestic market is very important to the global generics market, with more than 20 million generic drugs sold globally last year.”
The AMA also recommends patients take the time to review the quality of their medication.
The biggest drug errors have occurred in the first six months of 2017.
Dr Pattens advice is to “check the label on your medicine before taking it” to ensure there is no over-prescription or over-dosage.
“People should also consider how their medicine is stored, how often they use it and how often it is refilled,” Dr Patrick McGowan, the AMA’s national medical officer, said.
The recommendations are a response to the 2016 coronavirus pandemic, which has seen the number and type of drug errors increase.
It has been estimated there are about 8,000 drug errors per day in Australia, but the number could be much higher.
“As a community we should be looking at the way we