Health Insurance Daily

Consumers Prefer Generics To Brand Drugs

A new Wall Street Journal/Harris Interactive poll indicates consumers’ shopping habits for prescription drugs are likely to change due to the recent decisions by Wal-Mart and Target to sell some generics for $4. Survey responses from 2,493 adults suggests they are more likely to purchase lower-priced generic prescription drugs than brand-name drugs, and that in the future, they are more likely to shop for them at large discount stores like Wal-Mart or Target.

Thirty-nine percent of participants said they currently buy their drugs at a chain drug store, such as CVS or Walgreens, while 13% purchase from a discount store and 12% from a local independent pharmacy. However, half said in the future they would be likely, very likely or “absolutely certain” to fill their prescriptions with generic drugs from discount stores in light of the $4 announcement.

Moreover, nearly a fourth of respondents, 23%, said they would “always choose” to buy generics over the brand name, and 28% said they would “much more often” choose the generic. Only 9% indicated they would always choose the brand name drug over the generic.

A majority of adults, 40%, said they’re willing to pay $10 or less out-of-pocket for a 30-day supply of generic prescription drugs. Thirty-six percent said they would pay between $10 and $25, 15% would pay between $25 and $50 and 5% would be willing to pay more than $50.

Article provided by Benefit News 10-17-06.

posted by Mike @ 8:35 AM