NY Rx Price Posting Law is Most Comprehensive in Nation

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http://releases.usnewswire.com/GetRelease.asp?id=51198

New York Rx Price Posting Law is Most Comprehensive in Nation; AARP Top Priority Becomes Law - Creates Website to List Retail Prices of 150 Most Prescribed Drugs Consumers Given Tool to Comparison Shop to Save Money

8/1/2005 1:47:00 PM


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To: State Desk

Contact: David Irwin, 518-447-6723; 518-248-9167 (cell); Bill Ferris, 518-447-6712, both of AARP

ALBANY, N.Y., Aug. 1 /U.S. Newswire/ -- New Yorkers struggling with high prescription drug prices will have a new law to help them find the best prices on their prescription drugs at nearby pharmacies -- all at the click of a mouse. The law, which will provide on-line access to New York pharmacy's retail prescription drug prices, was AARP New York's legislative priority in 2005.

The law will establish the most comprehensive listing of retail prescription drug prices in the country. The New York State Department of Health will be required to post retail price lists of the 150 most prescribed drugs from every pharmacy in the state on its website and update them on a weekly basis. The website will enable consumers to search for the prices of their prescription drugs at nearby pharmacies by zip code or drug type and compare prices from pharmacy to pharmacy.

"AARP commends Governor Pataki for his efforts on this landmark legislation that will help New Yorkers find more affordable drugs and will set a national standard for other states to follow," said Lois Aronstein, AARP New York State Director. "AARP is also thankful to Senate Majority Leader Joseph L. Bruno and Assembly Speaker Sheldon Silver for their leadership and to Senator to Martin J. Golden and Assemblyman Richard N. Gottfried who introduced the legislation and who were the driving forces behind this unanimously passed bill."

An estimated five million people in New York State have no prescription drug coverage and over 300,000 AARP members pay the full retail price for their drugs. A recent report by the New York Public Interest Research Group found that drug costs vary, often significantly, among pharmacies in the same neighborhood.

From June 2003 to June 2004, prices among some of the most widely used drugs by older Americans rose by 7.6 percent -- 3.5 times the rate of inflation. In 2003, the average price of a retail prescription in New York was $63.34, ten dollars more than the average U.S. cost of a retail prescription drug.

"New Yorkers who pay the full retail price for their prescriptions feel every price increase right in their pocketbooks," said Aronstein. "Allowing New Yorkers without drug coverage to comparison shop on the Internet will help them to save significantly on drug prices right in their own neighborhoods."

AARP has over 2.6 million members in New York State. AARP is a nonprofit, nonpartisan membership organization dedicated to making life better for people 50 and over. AARP provides information and resources; engages in legislative, regulatory and legal advocacy; assists members in serving their communities; and offers a wide range of unique benefits, special products, and services for its members. These include AARP The Magazine, published bimonthly; AARP Bulletin, the monthly newspaper; Segunda Juventud, the quarterly newspaper in Spanish; Live and Learn, the quarterly newsletter for National Retired Teachers Association members; and the Web site, http://www.aarp.org. AARP has staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

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