NY State Alliance for Retired Americans Calls on Drugstores
to Sharply Drop Price of Generic Zocor
to Sharply Drop Price of Generic Zocor
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For release: Wednesday, January 17, 2006 @ 10:00 a.m.
Contact: Michael Burgess, Executive Director @ (518) 783-6231
cellphone (518) 229-3987
NY State Alliance for Retired Americans Calls on Drugstores to Sharply Drop Price of Generic Zocor
30 Pills of Generic Simvastatin Selling for $11.96 on Costco Website,
$55.88 at Walmart; and over $120 in Most Other Drug Outlets
The New York State Alliance for Retired Americans (NYSARA) said today that consumers need to closely monitor the price of the generic version of Zocor called Simvastatin because some drugstores are keeping the price artificially high even though several new generic competitors are offering the drug at less than 10% of what the price has been. Zocor has been the second most widely used statin drug used to lower cholesterol.
"For seniors and all consumers, there is a difference of about 40 cents a pill at Costco and over $4 a pill elsewhere," noted Michael Burgess, Executive Director of the New York ARA. "This is a period of time when there may be a tremendous markup on this generic because stores assume consumers will be happy with a slightly lower price rather than the very low price they can now purchase at because of new competition," he added.
NYSARA noted that the Food and Drug Administration (FDA) approved generic competition for Zocor on June 23 last year and two companies were given exclusive rights to begin selling the generic version for a 180 day period. That period ended in late December and the Food and Drug Administration has approved seven companies to start offering generic Simvastatin to increase the competition. (see FDA chart below)
At the time of the first generic approval, consumer advocates complained that the cost of the generic version was only slightly below that of Zocor which is selling now for $155.84 for 30 pills (20 mg) at an Albany Walmart according to the New York Attorney General's website (nyagrx.com). A review of the generic price on internet websites shows the price remains high at most internet pharmacies. 30 pills of Simvastatin (20 mg) sells for $125 at RiteAid's Drugstore.com. Walgreen's online price is $129.99.
Meanwhile, telephone calls to CVS pharmacy, 1170 Western Avenue, Albany indicated the price is $125.99 for 30 pills (20 mg). At the Target Pharmacy, 1440 Central Avenue, Albany the price for 30 pills is $135.99.
However, Costco is now offering the drug manufactured by Aurobindo Pharma at $11.96 for 30 pills (20 mg) on its website. And, the Walmart pharmacy at 760 Hoosick Road in Troy reported by phone the price is $55.88 for 30 pills.
"The price should be coming down sharply now as Costco's price indicates. Even though Costco is usually cheaper than other drug outlets, other stores will be overcharging customers if they don't start sharply dropping the price," said Michael Burgess, Executive Director.
NYSARA is urging seniors, disabled and all consumers to monitor the price in their local areas and tell pharmacies they want the price slashed if it is too high.
"Generics are a key to lowering drug costs and the millions who are taking Zocor or other statins can realize big savings," Burgess added.
The New York State Alliance for Retired Americans, based in the Albany area represents 575,000 union retirees and senior citizens active in community organizations.
FDA approval chart below
Drug Name and FDA Application Number |
Dosage Form/Route |
Strength |
Marketing Status |
Company |
|---|---|---|---|---|
| SIMVASTATIN (ANDA # 076052) |
TABLET; ORAL | Multiple Strengths | Prescription | IVAX PHARMS |
| SIMVASTATIN (ANDA # 076285) |
TABLET; ORAL | Multiple Strengths | Prescription | RANBAXY |
| SIMVASTATIN (ANDA # 076532) |
TABLET; ORAL | Multiple Strengths | None (Tentative Approval) | TEVA PHARMS |
| SIMVASTATIN (ANDA # 076685) |
TABLET; ORAL | Multiple Strengths | Prescription | COBALT |
| SIMVASTATIN (ANDA # 077691) |
TABLET; ORAL | Multiple Strengths | Prescription | AUROBINDO PHARMA |
| SIMVASTATIN (ANDA # 077752) |
TABLET; ORAL | Multiple Strengths | Prescription | DR REDDYS LABS INC |
| SIMVASTATIN (ANDA # 077766) |
TABLET; ORAL | Multiple Strengths | Prescription | SANDOZ |
| SIMVASTATIN (ANDA # 077837) |
TABLET; ORAL | Multiple Strengths | Prescription | ZYDUS PHARMS USA |
| SIMVASTATIN (ANDA # 078034) |
TABLET; ORAL | Multiple Strengths | Prescription | PERRIGO R AND D |