Published May 27, 2008 10:15 pm - Patients across upstate New York spent $5.5 billion on prescription drugs in 2007 but could put a considerable dent in those costs by talking with their physicians and pharmacists about using generic alternatives.
Generic drug options save considerable health-care costs
Name-brand prescriptions swell costs for patients
By JEFF MEYERS
Staff Writer
PLATTSBURGH -- Choosing generic drugs over brand names can provide patients with the same benefits but at a reduced cost.
And that saves both consumers and the health-care industry a significant amount of money.
In a recently completed survey of prescription-drug usage in upstate New York, researchers found that the 10 most widely used brand-name drugs in 2007 represented almost 20 percent of the total cost spent on more than 3,000 drugs.
"That is more than $1 billion in spending," said John Giacovelli, director of pharmacy industry relations for Excellus BlueCross/BlueShield, which conducted the survey. "There are generic equivalents out there that can provide a great opportunity for savings."
RISE IN SPENDING
The report showed that upstate New Yorkers spent $5.5 billion on prescription medications, an increase of $210 million from 2006 and more than $1 billion more than in 2003.
"That reflects the growing availability and use of prescription drugs, as well as a steep rise in the price of commonly used drugs," Giacovelli said.
"What we're trying to do is raise awareness in respect to the cost of prescriptions and how generics can impact that cost."
Lipitor, a drug used to treat cholesterol, topped the 2007 list at just over $250 million, more than double the No. 2 drug, Advair, used for asthma treatments, which was at $116 million.
Brand-name drugs to treat high blood pressure, high cholesterol and heartburn accounted for 26 percent of the total spent on prescriptions.
GENERIC VERSIONS
Two of the top 10 brands, Protonix (No. 3 on the list) and Fosamax (No. 9), have recently become available in generic form.
Pantoprazole, used to treat heartburn, can replace Protonix, and Alendronate, used for osteoporosis, provides the same treatment as Fosamax.
When drug companies develop new medications, they have patented rights to that drug for an average of 11 years. However, once the patent runs out, generic equivalents can be manufactured. The generics contain the same active ingredients but cost between 30 and 80 percent less than the brand name.
"Both these generic drugs became available in 2008 and provide a good opportunity for consumers to save out-of-pocket money," Giacovelli said.
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