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The researchers assessed four drugs: Allegra, Arava, Amaryl and Zithromax. In the next half of 2005, all these drugs come to an end of patent protection. Their generic equivalents were bought as an alternative at an average factor of 87 percent within thirty days of the equivalents supply at pharmacies.
The research was organized by Medco Health Solutions Inc. Situated in Frankin Lakes, which will be the biggest drug profit management company in U.S. The business offers for low rates of prescription drug with respect to its clients.
According to the research, Zithromax, the blockbuster of Pfizer Inc. with its annual sales of $1.85 billion was rapidly substituted at pharmacies by equivalent at a 90 % rate just after it lost its patent protection in November.
The research authors described the substitution of Zithromax, an for respiratory infections, as evidence that more and more doctors prescribe common versions of brand name drugs more quickly, even though it is about so-called acute care drugs, such as Zithromax.
The really good news is why these four generic medicines are just the start. With numerous common medications anticipated to go off patent within the next a long period, we should see large prescription drug costs savings - explained a senior vice president, Dr. Glen Stettin.
A speaker at Medco, Ann Smith stated that more than 70 brand medications, including 19 blockbusters, are losing their patent protection next five years - with total annual sales of $45 million.
If Medcos research reveals a long-term development, in the coming years customers, employers and insurance companies will save billions of dollars in prescription drug - Smith said.
The information met with enthusiastic response from consumer groups.
Hopefully the trend continues. Its good for people, confessed Bill Vaughan, senior coverage analyst for an group, Consumer Union, located in Washington, D.C.
Vaughan mentioned that past doubts regarding the safety and effectiveness of generic drugs have apparently started to disappear as society is becoming more concerned with rapid increase of health-care costs.
The FDA approves these generic drugs because they have been decided just like safe and effective as their brand name counterparts, nevertheless, you pay a portion of the cost, Vaughan mentioned. We think this really is very positive and can save consumers literally billions of dollars within the next few years.
At the same time frame, large pharmaceutical companies have claimed that their brand name drugs will not be substituted by knockoffs as insurers and doctors recognize that the brand name drugs ensure greater treatment and in consequence - conserve money.
Hank McKinnell, Pfizer Chairman used that argument all through last session with experts in Nyc.
If you dont such as the high cost of medical care, try the high cost of sickness, McKinnell recommended. follow us on twitter
