Retirees: the most used medications suffered increases of more than 205%

During the government of Javier Mileithe medications most used by retirees reached a year-on-year increase of 206.7%, a report revealed this Sunday. In year-on-year termsthe average of the 10 medications that increased the most in the last year reached an average interannual increase of 259%.

These were the conclusions of a report titled “Report on the medications most consumed by the elderly in Argentina” from the Center for Political Economy (CEPA) which showed that after the electoral victory of Javier Milei, the behavior of prices of medicines most used by older people.

It should be noted that, in mid-August 2024, The social work for retirees reduced 44 pharmacological molecules that had 100% coverage in their formulary. In June another 11 molecules had been reduced.

For this reason, the increases of 7.9%, 5.0% and 5.2% for the months of August, September and October respectively occur on a reduced basket of PAMI medications. If the basket of medicines surveyed in previous months is taken into account, the figure for the month of August reaches 24.4% increase, that of September 9.7% and that of October 4.3%.

Medications: these were the main increases

• Based on the data collected on the prices of medicines excluded from the PAMI basket, it is observed that the three drugs that recorded the largest increases in their prices between August and October 2024 were: Lanzopralwith an increase of 71.7%, Dermagloswith a rise of 70.8% and Acimedwhose price increased by 66.7%. “These increases reflect a significant adjustment in the cost of these medications, directly affecting the pockets of the members who acquire them, since the new provision of the organization, outside the coverage of the PAMI basket,” they expressed from CEPA.
• The reduction of pharmacological molecules implies that now a third fewer medications are offered compared to those that were distributed for free before Javier Milei’s administration.
• “The reduction of medications included in the PAMI formulary represents a significant problem for retirees, since it directly impacts the cost of living by forcing them to face greater expenses in purchasing medications,” they explained in the report. As of July, the comprehensive free and discounted drug program had saved an average of $63,800.
• “Without a doubt, this loss of indirect income that represented the granting of a greater quantity of medication at no cost and the non-updating of the bonuses that compensate the retirement mobility formula, implies a serious setback in terms of rights and quality of life of the older people,” they highlighted.

How were the increases

After the victory of Javier Milei, the behavior of prices of medicines most used by older people began a raid of significant increases: at the end of the month of November an increase of 25.7% was recorded, in December the increase reached 40.9%, in January They added up to 13.6%, in February adjusted to 15.0%, in March to 8.4%, in April to 2.5%, in May at 3.8%, in June at 2.8%, in July adjusted 5.0%, in August 3.0%, in September 1.7% and in October 1.6%. That is, year-on-year, Medications that older people regularly use registered an accumulated inflation of 206.7%,

Within the general increase of 1.6% in October that the basket of medicines suffered, the increase of 3.9% on average in the 10 medicines that increased the most stands out. Above the average, monthly increases of up to 5.1% are perceived.

The average of the 10 medications that increased the most in the last year reached an average interannual increase of 259%. Among those 10 products are the TRANSTOCE which is used for the treatment of peripheral vascular disorders, such as intermittent claudication of the lower limbs and arteriopathies, which increased 292% and OPTAMOX DUO which is a broad-spectrum antibiotic, widely used in respiratory diseases such as angina, pharyngitis, tracheitis, bronchitis, sinusitis, otitis media and pneumonia, which increased 282%.

In this context, CEPA highlighted that prices with PAMI coverage turn out to be “a fundamental element for caring for the income of older people.” Although the prices are lower than the general public sale prices, the accumulated increase since November for the PAMI basket exceeds the increase registered for the RRP basket.

In November, prices with PAMI coverage adjusted 14.5%, in December, they increased 15.6%, in January they increased by 33.8%, in February they maintained their price, in March they adjusted again by 19.4%, in April 16%, in May 16.6%, in June 15.1%, in July 7.6% and in August, September and October, without considering the medications that were excluded from the formulary, they increased 7.9%, 5.0% and 5.2% respectively. That is to say, They accumulated a 322.0% increase in said period.