Lipitor will be generic and much cheaper soon

(CBS News) 

There may be plenty of bargains out there for consumers on Black Friday, but the biggest of all may come next Thursday. That's the day that Lipitor, the most popular prescription drug in America, will become available in generic form.

CBS News correspondent Wyatt Andrews reports that this will mean big savings for millions of people.

It's not every day the best selling drug in history goes generic, but it's happening for the 3.3 million patients, like Raj Chhikara, who depend on Lipitor to lower their cholesterol.

"This is a life saving drug in some ways," Chhikara said.

It is now a life saving drug that's about to get cheaper for patients.

Starting this coming Thursday most copayments for Lipitor and its generic will drop from $25 per month to a generic copayment of $10 -- for an average savings of $180 dollars per year.

Historically, brand name drugs that go generic drop in price 90 percent in the first year.

Based on Lipitor's sales of $7.2 billion last year, this one generic drug should save the overall U.S. system $6.5 billion.

But that kind of money has led Pfizer, the maker of Lipitor to launch an aggressive marketing campaign.

Offering wholesale discounts so large, some drug benefit companies have told pharmacies to keep filling prescriptions with brand name Lipitor and warning the "generic (called) atorvastatin will not be covered."

Pharmacists like Stacey Swartz, owner of the Neighborhood Pharmacy in Alexandria Virginia, will in some cases make more money for dispensing Lipitor, instead of the generic. She says she will even fill generic prescriptions with brand name drugs sometimes.

An advocacy group called Pharmacists United for Truth and Transparency, says Pfizer, by freezing out the generic, could cost the insurance industry and Federal government an extra "$35 more per prescription."

Pfizer rejects that, telling CBS News its new prices for Lipitor are "at or below the cost of a generic to both payers and patients."

Its that true, the cost of Lipitor is about to plummet not just for patients but for insurance companies, Medicare and Medicaid -- as the blockbuster drug of all time delivers blockbuster savings.

[munchcrammer]

You people have totally missed the point of the story.. All you say is true, but the point of this is that Pfizer is paying (bribing) the pharmacy benefit managers (PBM) like express scripts, medco etc not to allow the use use generic Lipitor.. This kind of market control should be illegal, and should certainly royally **** off every consumer

[Transatlantique]

In this saturated fat society, they should hand the stuff out in candy dishes....FOR FREE! Big pharma and for-profit-medicine are evil.

[baileyccc]

They should rename this dangerous drug "The Liver Destroyer". The Cholesterol Scam is Big Pharma greatest victory. To quote an englishman, Oh what fools these mortals be.

[foo8259]

The International Network of Cholesterol Skeptics (THINCS) would agree. Many scientists have rejected the "lipid hypothesis."

[Dreadnut]

The old geezers will feast upon their daily bowlful of prescription medicines !

[retiredgustav]

I hope you live long enough to become an "old geezer", then perhaps you will look at things diferently.

[djseavy]

7.2 billion goes way beyond R&D payback, reasonable profit, etc. This is part of the reason health insurance is so expensive and prescription drugs are out of the reach of many citizens. The drug companies know they have us by the curlies, and just like the oil gouging, they have perfectly "rational" explanations for bending everyone over. Naturally Pfizer is offering everything but tea and crumpets to people that continue to prescribe, dispense, and ingest their product. They want to squeeze out the competition and hold on to as much of the icing on the cake as they can.

[CBS_CEO]

Statins almost crippled me! Change your diet permanently before you try any statins.

[foo8259]

Yes, and the sad part is "total cholesterol" has little if anything to do with heart disease. My triglycerides are low, HDL "good cholesterol" is high and my VLDL is in the teens. I do eat a lot of fat; mostly saturated animal fat, coconut oil and butter, but eschew the processed foods, grain, sugar and starches.

[dave1013]

My family history is crippling me! I have tried everything - diet, exercise, ritual baths, etc. - but it's just not enough. This drug improved all my lipid parameters, including lowering my total cholesterol from 250 to 160.