By Mark Scott
Buffalo, NY – A study prepared by Univera Healthcare finds that upstate New York residents could save $880 million a year if they opted for generic drug prescriptions.
Univera officials say consumers, employers and taxpayers would all win through the use of lower cost generics. Joel Owerbach, vice president and chief pharmacy officer at Univera, said savings for individual consumers would be significant.
"For example, a generic drug may cost people $5 or $10 a month, whereas a brand may cost up to $50 or more a month," Owerbach said. "That's hundreds of dollars a year. On multiple medications, the savings could reach $1,000."
High prices for prescription drugs have been widely cited as a major factor in the rising cost of health insurance premiums.