Excellus BCBS: New Generic Drugs Can Save Region $700M Annually
Utica, NY (WIBX) – Upstate New Yorkers could soon save money on their prescriptions, as 35 new generic drugs are set to hit the market through the end of 2013.
According to Excellus BlueCross BlueShield, widely-used drugs including Plavix, Singulair and Cymbalta will be released as generics, lowering costs by up to 90 percent.
John Giacovelli, director of pharmacy industry for Excellus, says generics provide the same active ingredients that their brand-name counterparts provide, but at a much lower cost.
“Generics are very widely accepted professionally and by patients, for many years,” Giacovelli said. “In fact, generics are widely used in hospitals.”
He also says Upstate New Yorkers could save more than $700 million by switching to generic versions of drugs. Plavix, alone, has the potential to save upstate New York users about $100 million.
For more information, a link to the complete report can be found here.