02/25/2009
Effexor XR® now available as generic
The popular antidepressant medication Effexor XR is now available as generic venlafaxine XR.
Even though venlafaxine XR is the same as Effexor XR, the generic is a tablet, while the brand–name is a capsule. Therefore, pharmacists cannot automatically substitute the generic for the brand. For that reason, we are letting doctors know that they should write prescriptions for venlafaxine extended release tablets instead of Effexor XR capsules.
Advantages of venlafaxine XR tablets include:
- They are covered by at the generic copay. This reduces the member's out–of–pocket costs, reduces overall cost, and still provides the same therapeutic benefits as Effexor XR.
- No prior authorization is needed for venlafaxine tablets. (Effexor XR capsules will continue to require prior authorization.)
- The generic tablets are smaller and may be easier to swallow than Effexor XR capsules.
- Venlafaxine XR tablets come in the same strengths as Effexor XR capsules, but because of their smaller size, they are also available as 225 mg tablets.
We will cover Effexor XR at the non–formulary/non–preferred copay effective March 1, 2009:
- Non–preferred copay tiers will apply to all new prescriptions for Effexor XR. MAC l–A does not apply when Effexor XR is selected rather than the generic on EmbarkSM, VantageSM, MotivateSM, Asuris HSA Healthplan 2.0SM and other prescription drug benefits with MAC–A.
- Existing members on Effexor XR will be notified about the change and will be grandfathered until June 1, 2009, in order to work with their doctor to transition to the generic. We are also notifying these members' prescribers in order to expedite generic prescriptions for those members.
By moving one quarter to one half of all current Effexor XR prescriptions to venlafaxine XR, the plan–paid cost savings could be as much as 20% (less than the brand). While these savings may seem modest, we expect the savings to grow over time as the price of the generic falls.
If you have questions, please talk with your Asuris Sales contact.
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