First quarter prescription drug spending: Generic drugs slow upward trend

ST. LOUIS, June 3, 2003 -- Growth in prescription drug spending slowed to 11.3% during first quarter 2003 as consumers used more wallet-friendly generic drugs and, as a result of a mild flu season, fewer antihistamines and cough-cold remedies. Lower, too, was use of estrogen drugs because of safety concerns raised by studies published last year.

According to pharmacy benefit manager Express Scripts, during the previous year first quarter, spending grew at a much faster 16.9% rate. The company, which serves over 50 million consumers, announced the first quarter drug spending data today at its annual research Outcomes Conference here.

Other research presented at the conference found that physicians welcome and act on information presented to them regarding potential safety hazards involving prescriptions they have written. A significant number 38% said they changed or modified their patient's therapy as a result of the information.

Commenting on the slowdown in prescription drug spending, Express Scripts Chief Executive Officer Barrett Toan said, "The drops in antihistamine, cough-cold and estrogen drug utilization were one-time events, but the cost-reducing effect of expanding generic drug use will continue to help make prescription drugs much more affordable for years to come."

Greater use of generic drugs reduced the dollar outlay for prescription drugs by 3.2% during the first quarter and, for all of 2002, by 2.1%. During the first quarter 2003, 47% of all prescription claims processed by Express Scripts were for generic drugs, up from 43% a year earlier.

During the next five years, patents will expire on brand-name drugs representing $32.3 billion in U.S. sales last year. For example, this year, the ACE inhibitor Monopril and the cancer drug Nolvadex are among the brand-name drugs scheduled for patent expiration. The 2004 patent expiration list includes the antibiotic Cipro and the anti-depressant Celexa, among oth

Contact: Steve Littlejohn
Kupper Parker Communications

Page: 1 2 3 4

Related medicine news :

1. First head-to-head study to compare lidoderm patch and Celebrex in treating pain
2. First UK cases of previously rare disease reported in gay men
3. First mouse model for multiple system atrophy points to new treatment targets for brain diseases
4. Mayo Clinic researchers create obedient virus; First step to use measles virus against cancer
5. First US kidney cancer vaccine trial underway at Columbia
6. First new treatment for alcoholism in ten years, now available Campral(R) (acamprosate calcium)
7. First blood test to diagnose paralyzing, blinding disease
8. First US SARS vaccine trial opens at NIH
9. First-ever safety study of medical cannabis use in Canada launched
10. First solid evidence that the study of music promotes intellectual development
11. First medical test on CD gets good results

Post Your Comments:

(Date:9/3/2020)... (PRWEB) , ... September 03, 2020 , ... ... of Approval for Sunrise Technologies WALI wireless parking lot controller. This advanced LED ... minimizing glare, reducing light trespass, and protecting the night sky against light pollution. ...
(Date:9/1/2020)... ... 2020 , ... KitoTech Medical, a Seattle-based medical device company, ... be used to accelerate the commercialization of its microMend® family of wound closure ... to expand its customer base of healthcare systems as well as independent hospitals ...
(Date:9/1/2020)... , ... September 01, 2020 , ... ... with specialty fellowship training in aesthetic surgery of the face, breast, and body. ... the only female-owned premier boutique plastic surgery and aesthetic practice in Southwest Florida. ...
(Date:8/31/2020)... ... ... Just found out your dear friend has cancer? , It’s hard to hear your doctor ... their diagnosis. Once the shock wears off, the questions and fears can be overwhelming. , ... ways to help? Words are failing me. I’m scared. I want to DO something. , ...
(Date:8/31/2020)... (PRWEB) , ... August 31, 2020 , ... ... cloud-based business management solution for chiropractors, announced today the launch of its integrated, ... professionals can start running their virtual practice in under 90 seconds. , ...
Breaking Medicine News(10 mins):
(Date:9/3/2020)... ... September 03, 2020 , ... Q&J Face Masks announced ... an aerosol and engineering lab, conducted tests on Q&J’s personal face mask that ... than many other masks. Q&J face masks have both mechanical filtering and electrostatic ...
(Date:9/2/2020)... ... September 02, 2020 , ... ... Covid-19 , Advanced Penetration Technology, LLC, (APT) a Texas- and Indiana-based company ... non-prescription, Over The Counter (OTC) products, was today provided results of an ...
(Date:9/1/2020)... ... September 01, 2020 , ... ... appointed to serve as Secretary to the Board of Trustees and committee chair ... High United Way is a Denver-based nonprofit organization that fights for the education, ...
Breaking Medicine Technology:
Cached News: