Besides checking
the cost of the generic drugs, which I usually get, I kind of glossed over this section.
Not exact matches
A 2012 report by the Kaiser Family Foundation calls the PBM assertions
of Medicare savings «overstated» and says the reduced
cost probably stemmed from incorrectly high predictions
of prices and from brand
drugs going
generic.
In general,
generics are a wonderful thing — they're a lower -
cost alternative to expensive, brand - name versions
of drugs.
Other pain points included
drug pricing and how approving more
generics may affect
costs (Gottlieb parried that question by noting the FDA doesn't have the authority to negotiate prices or consider pricing when approving a
drug) and his alleged softness on opioid
drug makers due the aforementioned financial ties and pro-industry ideology (the nominee noted that he considers opioid addiction and overdoses a public health crisis «on the order
of Ebola and Zika»).
Given its areas
of specialization, Gilead wouldn't benefit as much from consolidation as, say, a
generic -
drug company would, but it still faces pricing pressure: To appease Medicaid and other insurers, Gilead is already steeply discounting its hep - C
drugs, which can
cost more than $ 80,000 for a 12 - week course.
The
generic drug company tripled the discount patients can receive on the
cost of EpiPen to $ 300, up from the maximum $ 100 Mylan had previously offered with the use
of its special «savings card.»
The higher
costs have led to rationing
of dwindling supplies
of the less expensive
generic drugs to avoid purchasing the more expensive name brand treatments.
Kocher speculates that Amazon could reduce
costs by accepting lower margins than pharmacy benefits managers — intermediaries that now make huge profits through sales
of generic drugs in particular.
And don't worry, the lower
cost doesn't mean the
drug is less effective — brand and
generic drugs have the same standards
of quality and clinical effectiveness.
In fact, you can save up to 52 percent on the daily
costs of your medications if you purchase
generic drugs instead
of branded ones.
WASHINGTON (AP)-- Some low -
cost generic drugs that have helped restrain health care
costs for decades are seeing unexpected price spikes
of up to 8,000 percent, prompting a backlash from patients, pharmacists and now Washington lawmakers.
WASHINGTON (AP)-- The Supreme Court on Wednesday considered a
drug company's fight to keep a
generic version
of its biotech
drug off the market for an additional six months that would mean billions more in sales and higher
costs to the public.
Generic low -
cost versions
of the
drugs are available — Walmart sells a month's supply
of low - dose lovastatin for $ 4 — but many consumers choose costlier brand name options.
In an analysis published in February in Clinical Infectious Disease, Hill and his team compared the
cost of producing
generic HIV medicines and applied this analysis to the potential
cost of HCV
drugs (A. Hill et al..
The decline was due to increased use
of generic drugs as some popular brand - name
drugs lost patent protection, increases in
cost - sharing requirements, and lower spending on new medicines.
«
Generic drug use has been widely recognized to reduce patient out -
of - pocket
costs and payer spending.
In spite
of all the efforts to raise awareness and address the problem
of fake
drugs, a major complication remains:
Generic drugs, as well as branded
drugs, are often produced overseas and many are sold online, which saves
cost and can bring the price
of medication down, making it affordable to many people.
For example, ninety 10 - mg tablets
of generic simvastatin, a
drug used to lower cholesterol, sell for around $ 90, while the same amount
of Zocor, the brand - name version,
costs about $ 400.
Manufacturers
of generic drugs do not suffer with to absorb or recover these
costs.
Currently, Canada is the only country that allows brand name pharmaceutical companies to sue
generic pharmaceutical companies multiple times on the same patents, adding to the
costs and risks
of bringing
generic drug competition to the Canadian market.
The
cost of drugs depends on whether they're
generic or a brand.
If your employees take prescription
drugs, check the
cost of both
generic and brand
drugs at the pharmacy.
Generally,
generic drugs on the lowest priced tier, though this is not always the case — UnitedHealthcare makes a point to monitor the prices
of high
cost generics to make sure they're the best value.
Some insurers also offer prescription
drug riders which cover the
cost of a wide spectrum
of both
generic and brand name
drugs outlined in the policy.
The S&P Healthcare Claims Indices track healthcare
cost and utilization trends across various commercial lines
of business by geography (census division, region, state, and metropolitan area), healthcare type (medical, hospital, inpatient, outpatient, professional services,
drug,
generic drug, and brand
drug), as well as by incurred period.