Generic Availability Of Zocor(R) And Zoloft(R) Will Create Significant Cost Savings For Consumers

Main Category: Cholesterol
Article Date: 01 Jul 2006 - 0:00 PST

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Two popular prescription drugs are about to become available as generics, reaping significant savings on prescription drug costs for consumers and employers who purchase health plans.

The first new generic drug, called simvastatin, is expected to become available at pharmacies as a generic equivalent for Zocor, a brand name statin drug used to reduce cholesterol levels and thus reduce the risk of coronary heart disease and stroke. Zocor's patent expired June 23, clearing the way for the introduction of the generic. The generic equivalent of the antidepressant Zoloft is expected to become available within the next week.

"Prescription medications are a key driver of escalating health care costs, so the availability of these drugs is great news for consumers. It offers the same safety and efficacy as the brand drug, while saving them money on their prescription drug costs," said David Clark, vice president of Pharmacy Services for Regence.

As required by the Food and Drug Administration, generic versions of brand name drugs must have quality, strength, purity and stability equal to the brand-name drugs. It is estimated that the generic versions of Zocor scheduled for release will lower the price by 80 percent over the next six to eight months.

Regence is the largest affiliation of health care plans in the Pacific Northwest/Mountain State region. The introduction of the generic versions of Zocor in particular could potentially save consumers in the company's four- state service area more than $60 million annually, according to Clark.

Regence has several programs that help members save millions on their prescriptions and more programs are being added that will further enhance the savings of switching to generic drugs. Among these is RegenceRx, the company's in-house Pharmacy Benefit Management program (PBM). The program goes far beyond the FDA's review of new medications in order to provide consumers with safe, cost-effective and clinically sound medication options. The focus on clinical evidence and lower net costs has saved Regence and its members $300 million in the past four years.

About The Regence Group

Created in 1996, The Regence Group is the largest affiliation of health care plans in the Pacific Northwest/Mountain State region. It includes Regence BlueShield of Idaho, Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah and Regence BlueShield (in Washington). Through these plans, Regence provides health, life, vision, dental and long-term care insurance to nearly three million members. The Regence Group and its affiliate plans are not-for-profit, independent licensees of the Blue Cross and Blue Shield Association. More than one in three Americans have coverage from the Blues. For more information, visit http://www.regence.com.

The Regence Group
http://www.regence.com

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