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CVS Caremark Industry-Leading Generic Dispensing Rate Reduces Client Traditional Drug Spend by 3.6 Percent for 2012
Date:4/11/2013

WOONSOCKET, R.I., April 11, 2013 /PRNewswire/ -- CVS Caremark (NYSE: CVS) today released its annual Insights report, which reviews drug trend and highlights key issues in pharmacy care.  In a pivotal finding, the 2012 analysis revealed that the increased availability of generics combined with CVS Caremark's industry-leading generic dispensing rate (GDR) of 77.4 percent helped reduce spending on traditional medications by 3.6 percent for the company's commercial clients (i.e., health plans and employers).

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CVS Caremark's industry-leading GDR is the result of two key elements.  First, 2012 marked a high point in the flood of generic launches, with the estimated market value of brands that lost their patents in 2012 exceeding $35 billion.  Second, CVS Caremark worked closely with PBM clients to maximize the cost-saving opportunities posed by generics as broadly as possible, using strategies such as formulary management and step therapy plan designs to encourage the use of cost-effective generic drugs. In fact, 70 percent of CVS Caremark plan sponsors use generic step therapy or are considering implementing it in the near future.

While spending for traditional medications decreased, spending on specialty medications grew by 18.1 percent for commercial clients, becoming the main driver of overall drug trend of 0.3 percent. Specialty drugs treat more complex diseases such as multiple sclerosis, rheumatoid arthritis, hepatitis C and cancer.  Overall, specialty drugs now represent nearly 20 percent of total drug spend among CVS Caremark clients, growing by three percentage points and representing the largest increase in the past six years.

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SOURCE CVS Caremark
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