April
2006 »
Generic drugs could
save $26.4 billion
24 April, 2006
Consumers and health plans could save
more than $26.4 billion over the next five years by
using cheaper generic versions of 14 brand-name drugs
that are scheduled to lose their patent protection by
2009, according to a recent study.
Copycat versions of those drugs, which older Americans
commonly use, could help Medicare shave $23.3 billion
off its prescription-drug spending over the same period,
the study by the Pharmaceutical Care Management Association
indicates.
The association’s study looked at 14 of the top
100 drugs that older consumers use, including the cholesterol
medications Zocor and Pravachol, heart disease medications
Norvasc and Lotrel, mental health drugs Zoloft and Risperdal,
the allergy medication Zyrtec and the hypertension drug
Coreg. Seniors account for about 47 percent of sales
for the drugs in the study.
A recent study by Consumers Union found that Medicare
could save $8.2 billion, or 58 percent, in 2007 just
by beneficiaries using cheaper generic statins to reduce
cholesterol. Generic
drugs typically are 60 percent cheaper than the
original versions; the savings can run from 30 percent
to 80 percent.
To read more, Visit:
http://www.timesleader.com/mld/timesleader/living/14414680.htm
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