WASHINGTON - Beginning March 1, low-income seniors will be able to buy a 30-day supply of a Pfizer prescription medicine for $15, the company announced Tuesday. <br>
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The new Pfizer Share Card can be used at retail pharmacies and will be available to Medicare recipients who have an annual gross income below $18,000, or less than $24,000 for couples. There is no enrollment fee. <br>
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Company officials estimate 7 million Medicare-enrolled Americans qualify for the program. The card will cover over 80 Pfizer medicines including drugs for diabetes, Alzheimer's disease and high blood pressure. <br>
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Hank McKinnell, Pfizer Inc. chairman and chief executive officer, said the company acted after efforts to pass a prescription drug benefit for seniors were delayed in Congress because of the September terrorist attacks. <br>
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``Our government has focused appropriately on national security and the war on terrorism,'' McKinnell said. ``Until the administration, Congress and the states design an appropriate, high-quality, long-term solution for America's seniors, we are bridging the gap now for those most in need.'' <br>
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McKinnell said the program would cost the company millions of dollars but is worth the effort. ``The medical needs of these 7 million Americans can't wait,'' he said. <br>
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The company was to unveil the program at an afternoon news conference in New York. <br>
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The cost of prescription drugs is crucial for many older people. Medicare, which provides health insurance to all Americans over age 65, does not cover prescription drugs used outside the hospital. Many seniors get at least some of their drug costs paid, in some cases by joining a Medicare HMO or by buying supplemental coverage, but about 27 percent have no drug coverage. <br>
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Several drug companies have discount drug cards but many of those charge seniors a modest fee, usually $12 to $25 per year, in exchange for a discount. A recent government study found that savings from those cards are minimal for many of the most popular name-brand drugs. <br>
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The Pfizer drug card will be administered through the Pfizer for Living program, which will include a help line and educational materials for low-income seniors. <br>
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Pfizer medicines most often used by Medicare recipients include the cholesterol-lowering drug Lipitor, Neurontin for acute epilepsy, Norvasc for high blood pressure and angina and Zoloft for depression. <br>
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Already, CVS, the nation's largest retail drugstore chain, and Wal-Mart Stores Inc., the largest U.S. retailer, have agreed to join Pfizer in promoting the drug card. <br>
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Pfizer plans to launch a campaign informing seniors about the program by focusing on local emergency rooms, health clinics, physicians' offices, pharmacies and senior centers.
