The move towards generics started in January 2006. At that time the Congressional Budget Office forecast by 2008 the entire prescription drug program would cost $74 billion. But official figures show the total cost was about one-third less or only $50 billion.
According to Medicare 32 million seniors are enrolled in the program. More are expected to be added as the enrollment for fiscal 2009 starts Nov. 15.
Generics comprise 64 percent of Medicare prescriptions, while in the private sector it is 61 percent. Among the expensive and often prescribed medicine for the elderly now available in generic form are Norvasc, which is for high blood pressure, and Fosamax, for osteoporosis.
Across the nation, generics continued to gain higher acceptance among Americans. In 2006, 63 percent of prescriptions were filled with generics, up from 56 percent in 2005.
