On Tuesday, January 26, 2015, it was announced that Teva Pharmaceuticals had been granted FDA approval for the first generic version of Nexium® (Esomeprazole Magnesium) to be marketed in the United States.
With close to $6 billion in annual sales, the generic version is sure to bring relief to claims payments in the near future. No definitive launch date has been set, but Ivax Pharmaceuticals will market the product in both the 20mg and 40mg versions. Ivax is a subsidiary of Teva.
Nexium®, classified as a Proton Pump Inhibitor (PPI), is FDA indicated in the treatment of GERD (Gastro esophageal reflux disease) in those greater than 1 year of age and in the eradication of Helicobacter Pylori which is a common stomach infection treated with combination therapy which includes a PPI.
PPI medications, such as Prilosec®, Prevacid®, and Nexium®, commonly find their way onto workers’ compensation claims payment histories for conditions other than their FDA labeled indications due to a variety of reasons. With the release of Esomeprazole, this should bring some cost saving reductions to claims as well as price competition now that all three of these medications will be made available in a generic, along with OTC versions which are already available.
Pricing for Esomeprazole was not made available at this time.
More information can be found at:
- IMS Data November 2014
- Teva Pharmaceuticals, Ltd. Press Release. January 26, 2015.