Pharmacist Victor Young
A trip to the pharmacy is about to get a lot less expensive for a lot of Oklahomans and others across the country.
That’s because the patents for seven of the top selling drugs are about to expire. Two of the drugs are Lipitor and Plavix, which will soon be sold in a generic form for the first time.
Pharmacist Victor Young at Arcadia Pharmacy says the switch to generic options for expensive blockbuster drugs will mean substantial savings for many of his customers. “Consumers paying nearly $120.00 a month for a drug like Lipitor will be able to get the generic equivalent for anywhere between a $10 to $25 co-pay per month, depending on their prescription plan,” says Young.
Victor tells KRMG he sees people go without their prescriptions a lot because they can’t afford them.
Now, he says the cost of major drugs that are losing their patents will continue to plummet in price as more competing generic versions enter the market. “By the summer of 2012, the price for many of these drugs could be as low as $5 for the generic. The hope is that we see an increase in overall health, as people begin to take all the medication that is being recommended to them by their doctors,” says Young.
We asked Victor how this would effect his business.
He says they do make less money on generic, but make up for that with more volume.
~ krmg.com ~