Save Money- Buy your Prescription Drugs at Costco!

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One of my family members let me in on a little secret the other day.  Anyone can go into Costco and purchase prescription drugs because prescription drugs are a federally regulated substance.  If you aren’t a member and can’t go in with one, just tell the person at the door that you wish to use Costco’s pharmacy and they will allow you to go in.  Why should you buy prescription drugs at Costco?  You’ll save tons of cash.

Prescription drugs are one the most profitable industries.  My husband is a chef at an upscale restaurant, and drug reps are always buying meals to take to doctors’ offices.  I think it’s kind of backwards because they are wanting to brainwash doctors into giving their patients their drugs.  Think about it: you also see tons of commercials on tv for various prescription drugs (Viagra, anyone?).  Why should a patient have to see commercials? Aren’t doctors supposed to make those decisions for us?  Anyway, it’s hard to avoid the advertising, and if you are in need of prescription drugs, the least you can do is make sure you are paying the least amount possible for your prescriptions.

Save Money on Prescription Drugs

-Buy generic.  Obviously, the easiest way to save money on prescriptions is to go with a generic.  Generics are the same formula as name brand drugs but cost much less because they don’t have to pay huge bucks on advertising.  Even if you don’t have health insurance, you can still save money by buying generics.

-Get your pets’ prescriptions at Costco.  My neighbor is a pediatrician and has her veterinarian write all her dogs’ prescriptions for Costco.  I haven’t done it personally, but I’ve heard great things about it.

-Fill your prescriptions at Costco.  When comparing prescription drug costs, Costco beat out every pharmacy hands down.  You can go to Costco’s website and search for the price of any drug so you can compare yourself.  Using the drug Compazine, which helps prevent nausea in chemo patients, costs $54.99 for 60 pills at CVS.  100 pills at Costco are $19.89!  Unbelievable!

Prescription drug markup

Prescription drugs are grossly marked up. Here are a few examples of the cost to manufacture certain drugs versus the consumer’s cost:

Claritin: 10 mg
Consumer Price (100 tablets): $215.17
Cost of general active ingredients: $0.71
Percent markup: 30,306%

Prevacid: 30 mg
Consumer price (100 tablets): $44.77
Cost of general active ingredients: $1.01
Percent markup: 34,136%

Prozac: 20 mg
Consumer price (100 tablets) : $247.47
Cost of general active ingredients: $0.11
Percent markup: 224,973%

Tenormin: 50 mg
Consumer price (100 tablets): $104.47
Cost of general active ingredients: $0.13
Percent markup: 80,362%

Xanax: 1 mg
Consumer price (100 tablets) : $136.79
Cost of general active ingredients: $0.024
Percent markup: 569,958%

Isn’t that unbelievable?  While I believe the majority of diseases can be treated with diet, I also realize that there are many conditions that people have to take prescription drugs for.  Being an informed consumer can help you save money and live better.  If you need to buy prescription drugs, make sure you check Costco’s pharmacy first, even if you are not a member.  It can’t hurt to check!

Where do you buy your prescription drugs?  Do you always use a pharmacy?

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3 thoughts on “Save Money- Buy your Prescription Drugs at Costco!

  1. Corrie says:

    Just a note: generics cost less not because the companies don’t pay for advertising, it’s because they don’t pay for research and development. The highest cost is inventing and introducing new formulas.

    [Reply]

    Mrs Money Reply:

    Corrie- Thank you for that information! I appreciate you letting me know!
    xoxo

    [Reply]

  2. Edward says:

    Generics due cost less because they generally steal the product however they are mostly not allowed to benefit for at least seven years after the name brand product launch. That said I believe during the seven years time only a portion of R&D is recovered during that time. But the main reason the price does not drop is because of advertising and the fact that people will still pay for the brand name. good post, thanks.

    [Reply]

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