Drug Pricing and Pharmacies

Guest: Joel Hay, PhD, Professor of Pharmaceutical Economics at the University of Southern California Schaeffer Center for Health Policy and Economics  A wave of high profile price increases on generic drugs prompted a US Senate committee to start investigating. At a hearing to kick off that investigation, specialists from all corners of the health care system testified they’re powerless to rein-in out-of-control prescription costs. Today we’re asking what the pharmacy’s role is in all of this. Why does the same prescription cost $10 at one pharmacy and $60 at another? Do pharmacies mark up the cost of drugs? Do they have deals with drug makers or health care companies to get an extra cut when they fill certain prescriptions? And by the way, where have all the independently-owned corner drug stores gone?