Is apixaban expensive?

Apixaban, also known as Eliquis, is a blood thinner drug used to prevent blood clotting in people with atrial fibrillation or who have had hip or knee replacement surgery. While the drug has been proven effective in preventing strokes and pulmonary embolisms, it comes at an exorbitant cost that can be a real pain in the neck for patients.

If you’re wondering whether apixaban is expensive, the short answer is yes. But before we dive into why it’s so pricey, let’s look at some facts about this medication.

What Is Apixaban?

Apixaban belongs to a class of drugs called direct oral anticoagulants (DOACs). It works by blocking certain proteins in your blood that play a role in forming clots. This prevents clots from forming and reduces the risk of stroke or other serious complications.

The drug was first approved by the FDA in 2012 and has since become one of the most commonly prescribed DOACs on the market. According to GoodRx.com, apixaban is currently one of the top ten most commonly prescribed medications in America.

How Much Does Apixaban Cost?

Now for the meaty part – how much does this stuff actually cost? Unfortunately, there’s no easy answer to this question because prices can vary widely depending on several factors such as insurance coverage and dosage strength. However, here are some ballpark figures:

  • A 30-day supply of 5mg tablets (60 count) can cost around $600 without insurance.
  • The average retail price for a 90-day supply ranges between $1,800 – $2,400 without insurance.
  • With insurance coverage through Medicare Part D or private health insurers like Blue Cross Blue Shield you may still pay up around $20-$200 a month, depending on your plan.

Note: Prices can change over time, and different pharmacies may charge slightly different prices. These estimates are based on prices collected by GoodRx.com in June 2021.

Why Is Apixaban So Expensive?

There are several reasons why apixaban comes with such a hefty price tag:

1. Research and Development

Developing new drugs is expensive. Pharmaceutical companies spend billions of dollars developing and testing new medications before they hit the market. While this may not be an excuse for high drug costs, it’s one reason manufacturers use to justify their pricing decisions.

2. Marketing Costs

Similarly to research, marketing also comes at a significant cost – one that’s often passed onto consumers in the form of higher drug prices. Manufacturers need to promote their products heavily so that doctors will prescribe them instead of cheaper alternatives or generics.

In the case of apixaban, Bristol-Myers Squibb and Pfizer jointly market the drug worldwide, which means double the advertising budget. They have commercials everywhere showcasing happy people living healthy lives without clotting problems thanks to Eliquis, but what you don’t see is how much dosh these companies rake in because patients keep having prescriptions refilled.

3. Limited Competition

One reason why Eliquis costs so much is because there aren’t many direct competitors yet on the market (three other similar options available right now include dabigatran (Pradaxa), rivaroxaban (Xarelto), edoxaban (Savaysa)). This gives manufacturers more leverage over pricing since consumers don’t have many other choices if they want this specific type of medication. Generic versions will only become available after patent exclusivity expires – sometime around November 2025!

4. Insurance Negotiations

It might surprise you to learn that sometimes paying out-of-pocket could actually be cheaper than using insurance coverage for Eliquis. This is because pharmaceutical companies offer secret discounts to insurers in exchange for including their drugs in formularies (lists of covered prescription drugs). However, these negotiated prices often favor insurers and not necessarily the consumer.

How Can You Save Money on Apixaban?

Despite being expensive, there are options available to help you save money:

1. Use Patient Assistance Programs

If you’re uninsured, underinsured or have a low income (which could be due to unfortunate circumstances like spending too much on avocados), patient assistance programs may be able to help cover some or all of your costs. Bristol-Myers Squibb offers an assistance program that provides free medications up to one year’s supply for eligible patients based on household income.

2. Switch Prescription Drugs

One way around high drug bills is asking if it’s possible to switch to another medication which has the same effect and cheaper fees, sometimes with consultation from a medical expert about how changing can affect your condition positively or negatively.

Alternatives such as dabigatran, rivaroxaban or edoxaban fall into this category where costs varies between $10-$20 via certain pharmacies without insurance before discounts kick in – please always confirm details before purchasing!

3. Compare Prices at Various Pharmacies

Not all pharmacies will charge the same price for apixaban – shop around! There are online tools like GoodRx.com and BlinkHealth.com that let you compare drug prices at different stores so you can choose the most affordable option nearby.

4. Discuss Generic Substitutions With Your Doctor

Generic versions become more popular once exclusivity ends (in ~2025!) Some experts advise waiting for generics especially when pricing does not favour existing cost constraints held by people seeking treatment which cuts down expenses significantly through bulk purchases by manufacturers after exclusiveness time lapses.

Conclusion

In summary, Eliquis does the job of preventing unwanted clotting and all its nightmare-inducing potentialities effectively. But at what cost? High research and development costs coupled with sky-high marketing expenses are two reasons why drugs like apixaban come with a high price tag.

However, switching to other prescription alternatives or simply waiting for generics (in ~4 years time) might just be better options for many people who can’t afford outrageously priced prescriptions that they need on an ongoing basis.

As always consult a medical professional before making any changes to your healthcare plan!

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