More generic versions of blockbuster statin Zocor creating competition, reducing costs

The US Food and Drug Administration has approved six additional companies to begin selling generic versions of Pfizer's cholesterol-lowering drug Zocor (simvastatin), effective December 27, 2006. Previously, only two generic simvastatins competed against Zocor; these drugs were approved in June 2006 and granted 180-day exclusivity, which ended on December 23.

"Statin drugs, such as Zocor, Lipitor (atorvastatin), and the eight generic simvastatins are proven to be very effective in lowering cholesterol and preventing cardiovascular disease" said David Clark, vice president, medical and pharmacy services, Regence BlueCross BlueShield, which serves the states of Oregon, Idaho, Utah and Washington. "We believe that more than 60% of all patients that need their cholesterol lowered can be successfully treated with simvastatin," he added.

The availability of eight generic versions of simvastatin has increased competition and driven the price down significantly, says the Blue Cross and Blue Shield Association (BCBSA), which estimates that if all Blue Cross and Blue Shield members who took Zocor in June 2006 switched to one of the generic simvastatins, Blue Cross and Blue Shield Plans and their members would save almost $1.0 billion a year on the statin class of drugs. On average, individual Blue Cross and Blue Shield health maintenance organization members who switch from brand-name statin drugs to generic simvastatin may expect to save $204 annually on co-payments; preferred provider organization members could save $240 annually.