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Within the year of 2014, the cost of prescriptions had increased by at least 11.4% and 58% within the last eight years. The average cost for a month supply of brand-name drugs can run up to a couple of hundred US dollars, whereas in Canada and Great Britain the same medication could cost up to $40 US dollars.
Generic companies incur fewer costs in creating generic drugs—only the cost of manufacturing, without the costs of drug discovery and drug development—and are therefore able to maintain profitability at a lower price. [19] [20] [21] The prices are often low enough for users in less-prosperous countries to afford them.
Medication costs can be the selling price from the manufacturer, that price together with shipping, the wholesale price, the retail price, and the dispensed price. [3]The dispensed price or prescription cost is defined as a cost which the patient has to pay to get medicines or treatments which are written as directions on prescription by a prescribers. [4]
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These unit-based medication repositories provide computer-controlled storage, dispensation, tracking, and documentation of medication distribution in the resident care unit. Since automated dispensing cabinets are not located in the pharmacy, they are considered "decentralized" medication distribution systems.
When it comes to pricing for any medication, a generic option typically offers better savings than a brand name. Think of it like Heinz® ketchup versus Target’s generic ketchup.