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Generic drugs offer employers savings.

Publication: Managed Care Quarterly
Publication Date: 01-JUN-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Increasing employee use of generic drugs is still a sound strategy for dealing with rising health care costs, particularly as more pharmaceuticals come off patent. The cholesterol-reducing drug Zocor is losing its patent exclusivity, which means employers can save substantial amounts by changing their formularies to promote the use of its generic alternative. The blockbuster drug posted more than $3 billion in 2004 sales. Zocor is not the only treatment going off patent soon. More than $50 billion worth of brand-name drugs will lose patent exclusivity over the next five years. In 2005, at least 15 branded drugs lost their patents, noted Dr. Steve Miller, pharmacy benefit manager Express Scripts Inc.'s vice president of research.

As the number of drugs with generic alternatives grows, so does the savings...

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