MORGANTON, N.C. — Prescription drug prices are on the rise and impacting local families in the Carolinas.
Channel 9’s Dave Faherty spoke to a couple who says they may have to take drastic measures as tariffs send the prices of some of their medications through the roof.
Carl Andrews says his wife, Patsy, takes 21 different medications every day for her heart condition, diabetes and other medical issues. He estimates their monthly bill is between $500 and $600 — a lot of money for the couple who is retired after working in the furniture industry for 30 years.
“I’m pretty worried because a lot of that medicine I have to have,” Patsy said. “I don’t have a choice but to take them.”
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The couple says they try to save money by ordering two of their medications from Canada, but they became concerned after receiving an email from Canada Drugs Online stating that they were unable to ship due to tariffs. When shipments resumed, the company said there would be price increase. The couple says they are prepared to cut back on their medications if necessary.
“Unless we get help for some of our medicines, we will have to discontinue them,” Patsy said. “We won’t have a choice.”
Earlier this year, President Trump announced 100% tariffs on imports of brand name or patented medicines unless the drug companies commit to building manufacturing facilities in the United States. The tariffs were supposed to take effect on Oct. 1, but were put on hold as the administration worked to strike deals with major pharmaceutical companies.
Exela Pharma Sciences in Lenoir develops and manufactures sterile injectable products. Its president and CEO, Phanesh Koneru, said the impacts of tariffs on the company vary.
“Those companies in the U.S. with U.S. manufacturing capability but are manufacturing overseas have an easier path, in some cases, to bring manufacturing into their U.S. base,” Koneru said.
He said tariffs impact Exela in a different way. The company manufactures 90% of its product here, but imports equipment and some raw materials that are subject to tariffs.
At Peoples Drug Store in Taylorsville, longtime pharmacist Phil Icard says he gets some of his medications from overseas. He told Faherty he’s seen prices increase in over-the-counter products, but he’s not seeing a drastic increase in prescription drug prices so far.
“I don’t know if that’s due to the shipping from country to country, but we monitor the area and keep reading some of the journals, and they keep telling us to keep our eye on it,” Icard said.
Icard says he’ll be focused on January when companies typically raise prices. Carl and Patsy Andrews hope that doesn’t happen as they try to budget for their prescription medications.
“It’s hard to plan,” Carl said. “Me and her are both on Social Security, and we don’t have a whole lot.”
If you’re worried about how to afford your prescriptions, Action 9 Attorney Jason Stoogenke has tips to secure your medication at the best price possible:
- Don’t be afraid to tell your doctor the drug is too expensive. See if they’re just as good with a similar medication, like a generic brand.
- Ask if they have samples. Sure, this is more of a short-term solution, but it may buy you time.
- Ask your pharmacist about discount programs.
- While you’re there, see if it’s cheaper if you pay out of pocket instead of using insurance. Sounds weird, but it happens.
- See if the manufacturer has a patient assistance program.
- Check out websites, like GoodRx and SingleCare, for coupons.
- Consider nonprofits, like NC MedAssist, for free meds for those who qualify.
Stoogenke also says to use caution when shopping from online pharmacies. He says the drugs may be dangerous. Learn more about safe online prescription shopping with the FDA’s BeSafeRx website.
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