• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Prasco Laboratories: Over 80 Percent of Americans Want the Option of Authorized Generic Prescription Drugs

Posted on: Monday, 29 August 2005, 09:00 CDT

More than eight in ten Americans want the option of choosing Authorized Generic prescription drugs, a new nationwide study finds.

Americans, according to a survey carried out by Roper Public Affairs & Media, have a strong desire to have Authorized Generic prescription drugs available to them. An Authorized Generic is a generic drug manufactured by the brand name drug company and marketed as a generic under private label.

According to the survey, commissioned by Cincinnati-based pharmaceutical company Prasco Laboratories, 87 percent of Americans say they want the option of taking an Authorized Generic version of a prescription drug made by the original manufacturer. Nearly all Americans (90 percent) say that they would like to be told specifically by their pharmacist when an Authorized Generic is available. This data suggests that when brand quality is available at generic prices, Americans want to know about it.

The study also revealed that if given the choice, three in four Americans say they would be more comfortable taking an Authorized Generic prescription drug as opposed to a standard generic. Even consumers who say authorized versions make "no difference" in their comfort with generics would still feel more comfortable with an Authorized Generic drug than with another manufacturer's copy. Most significantly, eight in ten would prefer the authorized generic if the price of an Authorized Generic and a standard generic were the same.

"This data demonstrates that patients want brand sameness as long as they can also get generic prices," said E. Thomas Arington, Chairman and CEO of Prasco Laboratories. "Consumers have more confidence in their prescription drug when they have the identical experience that is offered to them by authorized generics."

Authorized Generics in the Marketplace

Authorized Generics are multi source prescription drugs, which were originally produced and marketed under an original new drug application. They have the same dosage, safety, strength, quality, performance, intended use, color, mouth feel and are administered in the same way. As a generic product, it contains the identical amounts of the same active ingredient(s) as the brand name product and unlike a standard generic product; it contains the same inactive ingredient(s) as the brand.

"Authorized Generics are the proconsumer solution in the pharmaceutical marketplace. Prasco's business model was developed to encourage more competition and benefit consumers through significant cost savings on brand-quality products," said Arington. "Patients will have the identical experience taking Prasco's products. We believe it is very important to pharmacies and their customers, because it gives them confidence in the generic product," concluded Arington.

Methodology

The findings presented are the results of a telephone study conducted June 3-5, 2005 by Roper Public Affairs & Media - a part of NOP World, among a nationally representative sample of 1004 adult Americans ages 18 and older. Data was weighted using US Census data to accurately represent the population of adult Americans. The margin of error for the total sample is +/- 3 percentage points at the 95 percent confidence level.

About Prasco Laboratories

Prasco Laboratories is a pharmaceutical company with a business model focused on extending the lifecycle of branded pharmaceuticals to deliver Independent Authorized Generics. Prasco's product line is currently sold through major distribution channels, including chains, independent pharmacies, distributors, wholesalers, and managed care providers. Prasco Independent Authorized Generics bring brand quality products to consumers at generic prices. The Company, located in Cincinnati, operates from a 54,000 sq. ft. administrative office and warehouse facility and has complete control over product distribution management systems--including DEA-approved facilities for Schedule II-V controlled drug products. For more information visit www.prasco.com

(Photos available upon request)

Source: Business Wire

More News in this Category