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Updated 05/19/2011 07:56 AM

Brand name drugs to go generic and save patients millions

By: Sarah Blazonis

Patients paying as much as $100 a month for some of the most popular brand name drugs may soon find they have a lot of extra money in their wallets. Our Sarah Blazonis tells us how the dozens of medicines going generic within the year could save all New Yorkers in health costs.

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UTICA, N.Y. -- You may want to check your medicine cabinet. Chances are you may have a prescription for one of the 42 brand name drugs set to get a generic equivalent within the year.

"I don't recall ever seeing such a large influx of new generics on the market in such a short period of time," said John Giacovelli, director of pharmacy industry for Excellus BlueCross BlueShield.

Excellus BlueCross BlueShield reports Lipitor, Plavix and Singulair are some of the big names going off patent in 2011 and 2012, meaning other companies will be able to manufacture those medicines at a savings to customers.

"Those are number one drugs. When a number one drug goes generic, it's a huge cost savings across the board," said Tony Chiffy, owner and pharmacist at Parkway Drugs in Utica.

Generic alternatives could cost up to 90 percent less than their brand name counterparts. Excellus predicts that could add up to almost $900 million in savings every year.

"Some people are paying $20, $50, $75 for this medication because there is no alternative. Now that there is an alternative, that $75 can come down to $5 or $10 depending on their insurance," said Chiffy.

BlueCross BlueShield says the largest long-term savings in 2011 will likely come from Lipitor, which has 154,000 users in Upstate New York alone. But that's not the only savings customers are likely to see.

"Consumers will see immediate benefit in terms of lower co-pays," said Giacovelli. "Private employers and government agencies that pay for the health care benefit will see savings in their premiums."

Prescription costs make up about 17 percent of premiums and with the new savings, that means all insurance customers could see their costs go down.

For a list of all the drugs expected to go generic in 2011 and 2012, visit www.excellusbcbs.com/factsheets.