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Update
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Several New "Blockbuster" Generics Can Save You Money
November 2006
Generic versions of several widely prescribed drugs have become available recently. They can save you money.
- Simvastatin, the generic of Zocor, a cholesterol-lowering medicine
- Pravastatin, the generic of Pravachol, a cholesterol-lowering medicine
- Sertraline, the generic of Zoloft, an antidepressant
- Venlafaxine, the generic of Effexor, an antidepressant
- Meloxicam, the generic of Mobic, an arthritis and pain medicine
- Fexofenadine, the generic of Allegra, an antihistamine
As relatively new generics, these medicines are not significantly less expensive than their brand-name equivalents — yet. Most are 20% to 40% less expensive, which is nothing to sneeze at.
For example, as of September 2006, a 30-day supply of generic simvastatin (20mg) cost an average $144 a month at retail pharmacies. That compares to Zocor (20mg) at $176 a month. The price of the generic at large discount stores, such as Costco and Sam's Club, was trending substantially lower, at around $75 to $80.
Likewise, a 30-day supply of sertraline (50mg) cost $88 a month compared to Zoloft (50mg) at $103. Again, the price was trending lower at large discount stores - at around $50.
A month's supply of venlafaxine (75mg) was running $139 in September compared to Effexor (75mg) at $165.
In early 2007, all four of these generics should become less expensive as more generic companies are allowed to make them and compete on price.
Fexofenadine has been available as a generic for a year and its price is starting to drop. As of November, 2006, a month's supply of the 60mg tablet costs from $62 to $114 at retail and online pharmacies. Allegra prices started at around $82.
The most widely prescribed insomnia drug - zolpidem (Ambien) - will also become available as a generic soon. We chose this drug as a Consumer Reports Best Buy largely for that reason in our report on the insomnia drugs in September 2006. As of that month, 15 Ambien pills (10mg) cost $67 at retail pharmacies. That's $4.47 a pill. The generic is available in Canada and other countries and a check of online pharmacies selling it yielded a price in November 2006 of $1.70 to $2.70 per pill.
If you are taking any of the brand versions of the medicines we have mentioned, talk to your doctor about switching to the generic version as soon as possible.
If you have been recently diagnosed with any of the conditions these drugs treat and you have been prescribed a brand-name medicine, talk with your doctor about whether it might be appropriate to switch to a lower-cost drug that would work just as well.
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