WellPoint, Inc., , the nation's largest health benefits company, today announced, through its wholly owned PBM division WellPoint NextRx, the addition of Simvastatin, the generic equivalent of the blockbuster cholesterol fighter Zocor(R), to the list of drugs included in WellPoint's GenericSelect(R) program in seven additional state markets -- Indiana, Ohio, Kentucky, Maine, New Hampshire, Connecticut and Virginia. Simvastatin is latest generic lipid-lowering statin drug available to members nationwide. Through GenericSelect, eligible members in these additional state markets can receive up to four months of medication for free as an incentive to switch to Simvastatin from brand name statins such as Zocor, Crestor, Lescol and Vytorin as well as WellPoint's preferred brand drug, Lipitor.
"Simvastatin is a highly potent statin that has demonstrated proven cardiovascular outcomes in patients participating in clinical trials, making it among the most powerful and popular generic statins available to help patients manage their cholesterol levels," said Brian Sweet, chief clinical pharmacy officer, of WellPoint. "In general, generic alternatives to brand name statin drugs have proven very effective in lowering cholesterol. Ultimately, this will aid in the prevention of cardiovascular disease. In addition, the increased availability of generics has also fostered healthy competition and driven prices down considerably, which makes these commonly prescribed treatments more affordable."
GenericSelect provides improved access to affordable generic drugs used to treat high cholesterol, high blood pressure, diabetes, arthritis pain and depression. The drugs on the GenericSelect list are among the most commonly prescribed medications for these conditions, and Simvastatin is now one of two generic options offered by this program to treat high cholesterol. It will be available to WellPoint members in these new markets by the end of March.
The number of generic drugs in the statin class for GenericSelect has been growing. In fact, since the beginning of 2003, the percentage of statin patients using generics has more than tripled, signaling a change in how people view generics. The FDA requires that generic versions of prescription drugs be equivalent in quality, strength, purity and stability to the brand name versions they replace. More than 60 percent of prescriptions written for statins are for name brands; however studies indicate many patients who require these treatments may be successfully treated with Simvastatin.
Aside from the therapeutic benefits of generic drugs like Simvastatin, members are also able to save money, based on the copay structure of their particular benefit.
"The introduction of this new generic lipid-lowering statin drug to our formulary will not only provide members with another quality, generic option, but it will also offer substantial savings to those who choose to switch," said Renwyck Elder, president, WellPoint NextRx, a division of WellPoint. "While savings will vary by plan, on average, members may expect to save $30 in waived copays assuming the average generic copay is $10 at retail locations. We encourage members who require cholesterol lowering treatment to speak to their physicians to determine if generic Simvastatin is right for them." |
