Aug 23

Written by: Besselman and Little
8/23/2011 1:32 PM 

The cost of prescription medicines used by millions of people every day is about to plummet.  The next 14 months will bring generic versions of seven of the world's 20 best-selling drugs, including the top two:  cholesterol fighter Lipitor and blood thinner Plavix. 

Top drugs getting generic competition by September 2012 are taken by millions every day:  Lipitor alone is taken by about 4.3 million Americans and Plavix by 1.4 million.  Generic versions of big-selling drugs for blood pressure, asthma, diabetes, depression, high triglycerides, HIV and bi-polar disorder also are coming by then.

"My estimation is at least 15 percent of the population is currently using one of the drugs whose patents will expire in 2011 or 2012," said Joel Owerbach, chief pharmacy officer for Excellus Blue Cross Blue Shield, which serves most of upstate New York.  Those patients, along with businesses and taxpayers who help pay for prescription drugs through corporate and government prescription plans, collectively will save a fortune.  That's because generic drugs typically cost 20 to 80 percent less than the brand names.

Last year, the average generic prescription cost $72, versus $198 for the average brand-name drug, according to consulting firm Wolters Kluwer Pharma Solutions.  Average copayments last year were $6 for generics, compared with $24 for brand-name drugs given preferred status by an insurer and $35 for nonpreferred brands, according to IMS Health.  Among the drugs that recently went off patent, Protonix, for severe heartburn, now costs just $16 a month for the generic, versus about $170 for the brand name.

Doctors hope the lower prices will significantly reduce the number of people jeopardizing their health because they can't afford medicines they need.  Of the top sellers that soon will have competition, Lipitor retails for about $150 a month, Plavix costs almost $200 a month and blood pressure drug Diovan costs about $125 a month.  For those with drug coverage, their out-of-pocket costs for each of those drugs could drop below $10 a month.

For a list of brand-name drugs going off patent through 2015, click here.  For a list of brand-name and generic drug price comparisons, click here.

Source:  The Advocate, August 7, 2011. pp 1F, 4F