Some of the best medications used in general medicine and psychiatry will be cheaper in 2011. Among those losing their patents this year are Lipitor and Plavix, the top selling cholesterol and clot prevention drugs. Also coming off patent protection are the antibiotic Levaquin, Concerta for attention deficit hyperactivity disorder and Zyprexa, for schizophrenia and other major emotional disorders.
In 2009, generic medications cost only 25% of their brand name counterparts. Market share in 2009 for generics was 75%, expected to rise to 85% in the next 3 years. Pharmaceutical companies have blocked the production of generics, keeping prices high, by paying generic drug manufacturers to keep their cheap products off the market-a practice known as “pay for delay”. Under current agreements, generic drugs are delayed entry into the US market by an average of 17 months! Also, drug companies have raised prices of name-brand medications dramatically. Name brand drugs represent 25% of the prescriptions written nationwide, but 80% of the overall prescription costs.
Dr. Covert will work with you to hold your medication costs down, while prescribing the best, but often, least-cost alternatives. If you are uninsured, he will offer you prescription benefit cards for savings at a wide range of pharmacies.
Posted on 1-25-2011
