admin @ Tue, 2005-10-25 08:48
NEW YORK -- Consumers, their employers and health plans in the commercial market could have saved $20 billion last year through increased use of generic drugs, according to a new report by Express Scripts, a pharmacy benefit manager.
The study examined six major classes of drugs including antidepressants and cholesterol-lowering medications and was based on a sample of roughly 3 million Express Scripts commercial members. Government programs such as Medicaid were not included in the study.
Express Scripts estimates that if more isn't done to increase generic use, $24 billion in savings will be lost this year. It said that, on average, a generic drug costs $60 less per monthly prescription than a brand name medicine. Consumers also pay lower co-payments for generics.
This is cache, read story here