Seniors Can Save Billions If Drug-Makers Don't Stop Generics
Pharmacy Benefit
Managers see Medicare saving $23 billion in 5 years
SeniorJournal.com, April 18th, 2006
Senior citizens and the Medicare
Part D program could potentially save more than $23 billion dollars over
the next five years as at least 14 major brand-name drugs commonly used
by seniors are slated to become available in generic form. Standing in
the way, however, is the powerful lobby for the pharmaceutical companies
that make name-brand drugs.
This analysis comes from an association
representing pharmacy benefit managers (PBMs), which administer
prescription drug plans for more than 200 million Americans with health
coverage provided through small businesses, Fortune 500 employers,
health insurers, labor unions, and Medicare Part D.
The Pharmaceutical Care Management Association (PCMA)
warned that these savings are at risk in the coming years as special
interest groups continue efforts aimed at undermining generic
alternatives, both in public programs and the commercial marketplace.
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