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:12/8/2016)... ... December 08, 2016 , ... ... Institute (WCRI) officially opened registration today for its 33rd Annual Issues & ... MA . , The theme of the conference is “Persistent Challenges and New ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... County, a Property owned by an affiliate of Seavest, has won a prestigious ... Medicine Southern Chester County ambulatory care center (ACC) was named “Best New Development, ...
(Date:12/8/2016)... ... December 08, 2016 , ... With the increasing demand for dental implants, ... Mouth?” (WIYM) campaign to inform dentists and patients about the safety issues related to ... prosthetic market in the U.S. is projected to reach $6.4 billion in 2018 with ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... for customers and employees that are both engaging and easy to use. Coming ... Technology, the software company revealed today its plans to roll out new AI-powered ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... has been recognized for adherence to the highest standards of trauma, maternity, ... organizations, announced the center's president and CEO, Dr. Daniel Messina. , Among the ...
Breaking Medicine News(10 mins):
(Date:12/9/2016)... DUBLIN , Dec 9, 2016 Research and ... - Global Strategic Business Report" report to their offering. ... The report also analyses the market ... report provides separate comprehensive analytics for the US, Canada ... Asia-Pacific , Latin America , and Rest ...
(Date:12/9/2016)... Mitsubishi Tanabe Pharma Corporation (Head Office: ... Dr. Masayuki Mitsuka ) has presented data that ... intravenously in 10-14 day cycles for 48 weeks experienced ... Functional Rating Scale-Revised (ALSFRS-R). The data were presented at ... Dublin, Ireland . In ...
(Date:12/9/2016)... , Dec. 9, 2016 Department of ... temporary regulations for medical marijuana dispensaries under Act 16 ... Bulletin , and are now available online . ... needed in the plan for operation; process for dispensing ... as well as where the dispensary facilities can be ...
Breaking Medicine Technology:
Cached News: