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Expiring drug patents provide opening to promote generics; Cost savings may be major.(News)
Business Insurance, July, 2006 by GONZALEZ, GLORIA
Byline: GLORIA GONZALEZ The recent expiration of the patents on blockbuster prescription drugs Zocor and Zoloft represents a tremendous opportunity to reinvigorate generic drug promotion programs, insurers and pharmacy benefit managers say. The introduction of generic versions of these and other popular drugs are expected to boost generic dispensing rates that-despite promotion efforts-generally hover in the 45% to 60% range.
Higher generic takeup rates are held back by several factors, including the continued influx of new and expensive drugs, marketing campaigns promoting costly brand medications and plan designs that discourage generic promotion efforts, insurers and PBMs say. On June 23, the U.S. Food and Drug Administration approved the first...
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