New generics could save millions in upstate NY

Generic drugs coming on the market in the next two years could save upstate New Yorkers more than $447 million a year, according to a new report from Rochester–based Excellus BlueCross BlueShield.

The savings would come from 14 brand-name prescription drugs that will be newly available as generics in 2013 and another 23 in 2014, according to the report from Excellus, one of Central New York’s major health insurers. The drugs include Cymbalta, Diovan, Nexium, and Niaspan, which treat conditions including depression, fibromyalgia, high blood pressure, heartburn, and high cholesterol.

“As expensive brand-name drugs become available as generics, the savings to consumers can be significant, both in terms of lower retail prices for those who pay out-of-pocket and lower co-pays for those with insurance coverage,” Mona Chitre, Excellus vice president of pharmacy management, said in a news release. “Importantly, consumers should understand that generics are approved by the Food and Drug Administration as being as safe and effective as their brand-name counterparts, so they can be confident in the generics’ efficacy.”

Contact Tampone at ktampone@cnybj.com