Generics slow rising cost of prescription dru...( cost savings without shifting costs to...)

Generics slow rising cost of prescription drugs in 2003

cost savings without shifting costs to members. Plan sponsors that implement GenericsWork can increase generic fill rate up to 70% and keep drug spending increases to less than 5% for the succeeding three years backed up by guarantees from Express Scripts.

"With our industry leading generic utilization rate, Express Scripts is proving that generic drugs are the key to managing the growing cost of prescription drugs and thus making it possible for plan sponsors to continue providing an attractive prescription benefit," said Barrett Toan, chairman and chief executive officer of Express Scripts. He added that GenericsWork uses methods proven by the evidence to increase the use of generics in prescription benefit plans of all sizes.

Overall, the Express Scripts Drug Trend Report found that plan sponsors that implemented two or more trend management program tools for the first time in 2003 saw their drug costs decline by 4.6%. Those who implemented one or more tools for the first time in 2003 saw their costs increase by only 5.9%. Plan sponsors who used at least one trend management program in 2003 saw their drug costs grow by 10.4%.

According to the Drug Trend Report, antihyperlipidemics replaced gastrointestinals as the leading therapy class of 2003 in overall spending. Growing 23.8% from 2002, the annual per-member spend for the class represented almost 14% of the total growth in prescription drug spend.

On the other hand, the annual per-member spend for estrogens and antihistamines decreased by 23.2% and 20.9% respectively because of the introduction of over-the-counter non-sedating antihistamine products and studies questioning the safety of hormone replacement therapy.

The top five categories in total drug spend, which include antihyperlipidemics; gastrointestinals; antidepressants; antihypertensives and anti-rheumatics, contributed nearly 45% of the grow
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Contact: Derrell Carter
derrell.carter@express-scripts.com
314-702-7584
Express Scripts, Inc.
8-Jun-2004

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