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Jb Reed, Bloomberg via Getty Images By Emily Jane Fox CVS (CVS) charges $150 for a monthly prescription of the generic version of the cholesterol drug Lipitor. The same drug goes for $17 at Costco.
Here’s the deal: CVS, the largest retail pharmacy chain in the country, is ditching the opaque formulas that currently determine drug prices. Under its new model, CVS pharmacies will be ...
The new CVS Pharmacy model, which covers both generic and brand name drugs, will reduce the cost of most drugs, though some may see slight increases, said Amy Thibault, CVS Pharmacy spokeswoman.
The class is on the World Health Organization's List of Essential Medicines with simvastatin being the listed medicine. [10] In 2005, sales were estimated at US$18.7 billion in the United States. [11] The best-selling statin is atorvastatin, also known as Lipitor, which in 2003 became the best-selling pharmaceutical in history. [12]
It works by decreasing the liver's ability to produce cholesterol by blocking the enzyme HMG-CoA reductase. [2] Lovastatin was patented in 1979 and approved for medical use in 1987. [4] It is on the World Health Organization's List of Essential Medicines. [5] It is available as a generic medication. [2]
Initially, generic atorvastatin was manufactured only by Watson Pharmaceuticals and India's Ranbaxy Laboratories. Prices for the generic version did not drop to the level of other generics—$10 or less for a month's supply—until other manufacturers began to supply the medication in May 2012.
CVS Pharmacy is revamping the way it reimburses its pharmacies for prescription medications, which it says will bring more transparency and simplicity to its drug pricing system, the company ...
At the same time, pharmacy benefit managers such as Express Scripts and CVS Caremark, while recognizing that the new drugs could help patients who were otherwise left with uncontrolled cholesterol levels, and recognizing that injectable biopharmaceuticals will always be more expensive than pills, and especially more expensive than generic pills ...