Barr Pharmaceuticals plans to introduce a generic version of the basic 70-milligram form of Fosamax® on Feb. 6, 2008 according to a January New York Times article. The U.S. Food and Drug Administration approved the generic version.

People who would normally purchase a three-month supply of the 70-mg form of Fosamax may want to purchase only a 30-day supply until after the generic becomes available in February. While the overall price of a newly introduced generic drug is often not much less than the corresponding brand-name drug at first, prescription drug benefit plans often have much lower member copays for generic drugs than for brand-name drugs. 

If your costs under your prescription plan are based on a percentage of the drug price, you may not see much of a personal cost difference for at least the first six months. However, if you have a prescription plan where your costs equal a flat dollar amount per type of drug, the dollar amount you pay for generic drugs could be much less than brand-name drugs, and your overall costs for the Fosamax generic could be much lower.

In Minnesota, pharmacists may legally replace a brand-name drug with its generic equivalent when they fill your prescription. Because a generic drug delivers the same active ingredients at the same dose as the brand-name drug it replaces but for a lower cost, it is a good substitute for most people. Check with your physician to learn if the Fosamax generic is an appropriate change for you.