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:5/26/2016)... LINCOLN, R.I. (PRWEB) , ... May 26, 2016 , ... ... season. That’s why Amica Insurance is sharing tips to make sure your ... an estimate from the National Safety Council, there may be 439 deaths and an ...
(Date:5/26/2016)... ... May 26, 2016 , ... The Lung Institute has partnered ... cessation class starting June 6 at their clinic in downtown Tampa. The class is ... the Lung Institute has created a free downloadable 4 Week Smoking Cessation Guide ...
(Date:5/26/2016)... ... May 26, 2016 , ... ... Orthopedics and chief medical officer of Blue Horizon International (BHI), Brian Mehling, M.D., ... conference was held during May 5-6, 2016 in Chicago, IL, USA. Dr. Mehling’s ...
(Date:5/26/2016)... ... May 26, 2016 , ... Power Systems, a leading ... PowerWave Instructor Certification Course in Stoughton, Massachusetts. The course was led by Power ... the 8 hour interactive course to qualify participants as certified PowerWave trainers. ...
(Date:5/26/2016)... , ... May 26, 2016 , ... On May 23rd ... Research Water Life Science® and international water advocate, was honored by Ashram, Inc. as ... in ancient Egypt who knelt on the banks of the Nile to fill their ...
Breaking Medicine News(10 mins):
(Date:5/24/2016)... May 24, 2016   ... beide primären Endpunkte und demonstriert Ebenbürtigkeit ... ‚ausgezeichneter plus guter , ... ,      (Logo: http://photos.prnewswire.com/prnh/20130829/633895-a ... neue positive Daten von der MORA-Studie der Phase ...
(Date:5/24/2016)... New Zealand , May 24, 2016 ... and informatics solutions for the healthcare sector, has been named ... New Zealand Hi-Tech Awards 2016. Dr Bruce ... fantastic acknowledgement for our team.  It,s really good to be ... burden healthcare internationally. Our products are used in 35 countries ...
(Date:5/24/2016)... VMS BioMarketing as senior vice president of sales, announced Andrea Heslin Smiley , ... the company,s business development and sales team, exploring new opportunities for VMS to empower ... ... ... ...
Breaking Medicine Technology:
Cached News: