Release # 041-01

 

Contact:	Sunny Mindel / Lynn Rasic	(212) 788-2958
	John Radziejewski (DCA)	(212) 487-4283

Mayor Rudolph W. Giuliani today joined Consumer Affairs Commissioner Jane S. Hoffman to release the results of the 2001 Department of Consumer Affairs (DCA) prescription drug price survey and to advise New Yorkers to shop around in order to save on prescription drugs.

"Before filling their prescriptions, New Yorkers should check the Consumer Affairs prescription drug price survey," Mayor Giuliani said. "Even the smartest consumers might not think of comparison shopping when it comes to filling a prescription. Unlike over-the-counter medication that is openly displayed and visibly priced, the pricing information on prescription drugs is less accessible. By consulting the survey, New Yorkers can research prices, find the lowest prices in the City, and save a good deal on their prescriptions."

"Our Department's annual survey is extremely useful because it demonstrates that New Yorkers can save a considerable amount of money by choosing one drug store over another, even in the same neighborhood," Commissioner Hoffman said. "For example, in Queens, the generic equivalent of the asthma inhaler Ventolin sold for $7.00 at Vitality Drug, located at 255-01 Union Turnpike. Down the block, at 257-07 Union Turnpike, Genovese Pharmacy was selling the same product for $24.59 - 351% more expensive than its neighbor's prices."

The Mayor and Commissioner Hoffman also urged consumers to check the "pink" price listing that pharmacies are required by law to display at, or adjacent to, the place in the pharmacy where prescriptions are presented. The Commissioner noted that it is illegal for the store to charge more than the price that appears on the "pink" lists. The sign must provide the current selling price and dosage for each of the 150 most-frequently prescribed drugs listed.

Survey Results
For the seventh consecutive year, DCA inspectors conducted a Citywide survey of 72 pharmacies detailing Citywide and borough average prices for individual drugs and for "market baskets." Each "market basket" consists of a predetermined list of drugs - 17 brand name drugs and 3 generics. The survey covers two kinds of "market baskets," one comprised of drugs that are frequently prescribed to adults, the other comprised of drugs that are frequently prescribed to seniors. The 2001 survey reflects the list prices of prescription drugs, displayed on the "pink" signs that pharmacies are required to post near their prescription counter.

Staten Island was found to be the least expensive borough for prescription drug purchases, with an average adult "market basket" price of $1,310.93 for 20 drugs - $44.18 lower than the Citywide average. Manhattan residents will find themselves paying $1,420.48 for the same 20 drugs, $65.37 more than the Citywide average.

For seniors, Queens had the least expensive prescriptions with an average price for a "market basket" of $1,314.64, $35.03 lower than the Citywide average. Manhattan's seniors will spend the most, with an average "market basket" cost of $1,408.49, $58.82 more than the Citywide average. The survey also notes that two of the City's major pharmacy chains, Walgreen's and CVS, do not offer a 10% reduction in prices for seniors while three other major chains, Rite Aid, Duane Reade and Genovese, do.

Based on the Citywide averages, a consumer would pay $1,356.11 for the adult "market basket" and $1,349.67 for the senior "market basket." However, prices went as high as $1,884.36 for the adult "market basket" and $1,878.36 for the senior "market basket" at Zitomer Pharmacy, located at 969 Madison Avenue in Manhattan. The lowest "market basket" prices were also in Manhattan: Lenox Terrace Drugs, located at 20 West 135th Street, had an adult "market basket" price of $1,036.19 and a senior "market basket" price of $1,046.24.

The average borough "market basket" prices for adults and seniors were:

Generic Medication
As in the past, the survey revealed that consumers save a considerable amount of money by using generic drugs instead of brand name pharmaceuticals to fill a prescription.

"There are enormous price gaps between brand name medications and their generic counterparts. Some brand names can cost consumers three to four times more than the equivalent generic medications. For example, the painkiller Darvocet sold for $38.99 at Lenox Terrace Drugs, located at 20 West 135th Street in Manhattan, while its generic counterpart Propoxyphene / Apap sold at the same store for only $6.99, a difference of $32 dollars, or 458%," Commissioner Hoffman said.

"Many consumers are not aware that they can request a generic substitute for a brand name drug if their doctor does not write 'DAW' or Dispense as Written on the prescription," Commissioner Hoffman added.

Advice for Seniors
The Mayor and Commissioner Hoffman also suggested that seniors save money on prescriptions by joining the state-run Elderly Pharmaceutical Insurance Coverage (EPIC) program. With fees ranging from $2 to $75 dollars per quarter, EPIC allows eligible seniors to save a substantial amount of money. EPIC also provides a co-payment plan under which enrollees will never have to pay more than $20, even for the most expensive prescription.

To receive a free copy of the 2001 Senior and Adult Prescription Drug Survey, send a self addressed, stamped envelope to:

New York City Department of Consumer Affairs
2001 Prescription Drug Survey
42 Broadway
8th Floor
New York, NY 10004