[Atlantic article] The Cold-Medicine Racket

From the 19 December 2014 Atlantic article by JAMES HAMBLIN

There are now hundreds of flashy “cold and flu” products, but still only a handful of simple, cheap ingredients. Here’s one new way to cut through the noise.

One in four people, when buying an over-the-counter medicine to treat a headache, will go for a brand name product. Unless that person is a pharmacist. In that case, according to research from the National Bureau of Economic Research, they’ll almost certainly buy a generic version. The pharmacists know, and trust, that the drugs are identical.

But Bayer aspirin costs $6.29 at CVS, while the same amount of CVS-brand aspirin costs less than a third of that, $1.99. The two products are required by law to be “bioequivalent,” and CVS even has signs imploring shoppers to go for the cheaper option. Yet many people do no such thing. The difference in price between brand names and generics accounts for tens of billions of dollars “wasted” every year by Americans in pharmacies, according to the economics researchers. They also found that more highly educated people are more likely to buy generic medications, concluding that “misinformation explains a sizable share of the brand premium for health products.”

Consumer confusion, or misplaced trust, is compounded by the fact that a drug store is likely to have upwards of 300 cold-and-flu products.

…

Angelotti, formerly at Google, has now co-created a program that can help people pare down their options. On the Iodine site, you can click on the symptoms you’re experiencing, and that will comb a database of common cold-and-flu products and tell you which ones meet your needs. The results also include product reviews (via Google, with over 100,000 medication reviews so far), dosage forms (liquid or pill), active ingredients, and the names of generic versions at various pharmacies.

[janice’s note…it would still be wise to consult with an expert…as in a licensed pharmacist!]