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More Generic Drugs - Brand-Names Losing Patent Over Next Four Years

Feb 09, 2011


Pipeline of generic medications could help trim health care costs

 


Did you know that nearly $57 billion in brand-name medications will be coming off patent within the next four years?

When a company develops a new drug, it's given a patent for up to 20 years. During that time, only the company that develops the drug can sell it. Once the patent expires, other drug manufacturers can produce a generic version. Because the original drug company already paid to develop the drug, these other drug manufacturers can avoid the same high costs.


Additionally, several companies may manufacture the same generic drug. This means there's more competition to keep the price down. And that means lower copays for employees and lower health care costs for employers.


In fact, did you know that a 1% increase in generic utilization can result in approximately 1-2% percent reduction in total drug spend?

The following medications will be coming off patents in the next four years:
 

2011

2012

2013

2014

Annual Sales

$15.9 billion

$20.7 billion

$8.3 billion

$11.8 billion

Actos

Avandia

AcipHex

Actonel

Caduet

Avapro

Avodart

Arthrotec

Levaquin

Detrol LA

Cymbalta

Asacol

Lipitor

Diovan

Niaspan

Avelox

Patanol

Geodon

OxyContin

Celebrex

Xalatan

Lexapro

Propecia

Evista

Yaz

Plavix

Sustiva

Loestrin Fe

Zyprexa

Provigil

 

Lunesta

 

Seroquel

 

Nexium

 

Singulair

 

Yasmin

 

Viagra

 

 

Source: IPD Analytics, 2010


Talk to an account manager about what this means for your clients and their employees, and what Anthem Blue Cross can do to help educate employees about generic medications.

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