HOME >> MEDICINE >> NEWS
Generics slow rising cost of prescription drugs in 2003

ST. LOUIS, June 8, 2004 Higher generic drug use in 2003 slowed the rising cost per prescription to a 7.9% increase -- from $51.76 to $55.86. This rate of increase was significantly less than the 13.1% increase from 2001 to 2002, and the lowest rate in the past four years.

Generic drug use increased to a record 48% among Express Scripts' 50 million members during 2003, spurred by the use of several prominent new generics, fluoxetine, omeprazole and lisinopril. The company's overall generic dispensing rate increased to 49% in the first quarter of 2004. The drug spending data was announced in the company's annual Drug Trend Report released today at the Express Scripts Outcomes Conference.

Facing generic competition by the end of 2008 are branded pharmaceutical products accounting for more than $38 billion in sales last year, resulting in significant savings for plan sponsors and their members. Express Scripts' statistics show that for every 1% increase in generic drug use, prescription benefit plan sponsors save 1% off their cost for drugs in providing the benefit.

In addition to the release of new generic drugs, the greater use of generic drugs can be attributed to greater management of the pharmacy benefit by Express Scripts clients. In particular, the company has seen increased deployment of step therapy programs, which promote the use of lower cost brand drugs before stepping up to a more expensive brand.

Also growing in popularity was the Express Scripts High Performance Formulary, which most effectively promotes the use generics and low-cost brand drugs. The 10 plan sponsors that have adopted this formulary since 2002 reversed the typical year-to-year increase in drug costs and saw their drug spending go down.

Launched during the Outcomes Conference was a new generics-focused trend management tool called GenericsWorkSM, which allows plan sponsors to improve
'"/>

Contact: Derrell Carter
derrell.carter@express-scripts.com
314-702-7584
Express Scripts, Inc.
8-Jun-2004


Page: 1 2 3

Related medicine news :

1. Celecoxib shows surprising activity against estrogen receptors
2. Breast cancer in Asian Americans is rising faster than in any other ethnic group
3. New survey reveals surprising insights into parental attitudes toward teenage sexual behavior
4. Breast cancers show surprising characteristics on MRI
5. Funding and distribution of inappropriate drugs add to rising global childhood malaria deaths
6. New prevalence study suggests dramatically rising numbers of people with Alzheimers disease
7. The rising cost of living with HIV
8. Surprising results for Ugandan HIV intervention trial
9. Concern over rising rates of syphilis in England
10. Breast cancer rising among Asian-American women
11. Surprising findings on Medicaid kids and the ER

Post Your Comments:
*Name:
*Comment:
*Email:


(Date:4/28/2016)... ... April 28, 2016 , ... ... today the open availability of a new CDISC standard, Clinical Trial Registry ... clinical trials. This innovative standard will make it possible to build applications ...
(Date:4/28/2016)... Beach, FL (PRWEB) , ... April 28, 2016 , ... ... the spring season. Smart pots are frequently used by professional organic farmers and nurseries ... growers to order their supply of fabric pots. Our goal is to offer wholesale ...
(Date:4/28/2016)... ... April 28, 2016 , ... ... Center Infrastructure Management solutions, announces today the availability of its latest software ... area of capacity management and optimization, providing new analytical capabilities that assess ...
(Date:4/28/2016)... , ... April 28, 2016 , ... USA Medical Card reminds us that May is ... a stroke is the fourth leading cause of death in the United States; someone has ... a quarter of them in individuals under 65 years old. A stroke is when ...
(Date:4/28/2016)... MA (PRWEB) , ... April 28, 2016 , ... A ... were typical among 18 states studied, the Workers Compensation Research Institute (WCRI) ... The WCRI study, CompScope™ Benchmarks for Kentucky, 16th Edition , found that indemnity ...
Breaking Medicine News(10 mins):
(Date:4/28/2016)... 28, 2016 TapImmune,Inc. (TPIV), ... peptide and gene-based immunotherapeutics and vaccines for the treatment of ... at the 3rd Annual Growth Capital Expo to ... 2016 at Caesars Palace in Las Vegas, Nevada.  The ... May 4 th by Dr. John N. Bonfiglio ...
(Date:4/27/2016)... Avril 2016   ... +5% sur le trimestre, soutenu par une croissance ... Croissance de +16% des ventes aux hôpitaux ... Kea Technologies (Euronext : MKEA, FR0010609263 ; OTCQX : MKEAY), inventeur ... aujourd,hui son chiffre d,affaires pour le premier trimestre ...
(Date:4/27/2016)... Conn. , April 27, 2016   ... of its digital health technology platform, which specializes ... and programs into scalable digital products, Zillion enables ... engagement and empower consumers to take control of ... face-to-face live video conferencing – including one-to-one, group ...
Breaking Medicine Technology:
Cached News: