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MANAGED CARE July 2005. ©MediMedia USA
THE FORMULARY FILES

Cost being equal, consumers prefer older drugs

Seven out of 10 consumers would prefer a drug that had been on the market for 10 years or more, compared to a newer drug, even if the copayments were equal. Further, 31 percent believe newer drugs are less safe than older drugs, according to the Medco Monitor, a nationwide household survey. The report surveyed 1,092 insured adults.

Formulary decision makers take heart: This could be a sign that consumers are more inclined to start using generic medications.

Ann Smith, a spokeswoman for Medco Health Solutions, says, "Just the idea that these older medications have been on the market for some time — they're tried and proven in the consumer's mind. They see the safety profile and effectiveness. And then you factor in the [usually] lower cost of an older drug. Consumers see that older may be better, or at least safer. If there's a cost savings, they are comfortable choosing an older drug."

Other findings from the survey include:

Would you prefer to take a prescription drug that is new to the market
or one that has been on the market for 10 or more years?
Not sure16%
New to market16%
On the market for more than 10 years68%

Source: The Medco Monitor