admin @ Tue, 2005-10-25 18:46
ST. LOUIS, Oct. 25 (UPI) -- A St. Louis-based pharmacy benefits managing firm says consumers could have saved $20 billion in 2004 by using more generic drugs.
Express Scripts Inc. says consumers can save even more in 2005 and future years using by generic drugs instead of more expensive brand name drugs. The report examined six major drug-categories using a random sample of about 3 million individuals.
Generic drug use and savings opportunities were listed by state, revealing significant variation across the drug categories to treat common conditions like stomach ulcers, inflammation, depression, high blood pressure and high cholesterol.
The most dramatic savings potential was found for generic gastrointestinals, which are dispensed to fewer than a third of patients nationwide, but could be used by 95 percent. That alone could produce savings of an additional $5.4 billion nationally, the report said.
"We have only scratched the surface in taking advantage of the money-saving potential of clinically sound generic drugs," said Steve Miller, vice president of Express Scripts.
"As additional generics come to market and the use of prescription drugs grows, the opportunity to lower healthcare costs becomes even more significant."
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