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Nonprescription Nexium heartburn medicine launches

By WTOP Staff

LINDA A. JOHNSON
AP Business Writer

TRENTON, N.J. (AP) — A nonprescription version of Nexium, the most popular medicine for frequent, severe heartburn, has just gone on sale.

Drugmaker Pfizer Inc. said Tuesday that over-the-counter Nexium 24HR is available for online orders at www.Nexium24HR.com and will be in most retailers nationwide within three days.

The nonprescription version is a 20-milligram dose of “the purple pill,” known chemically as esomeprazole.

Patients are to take one pill daily for up to 14 days, so it’s sold in packages of 14, 28 or 42 pills, priced at about $15 to $30. Prescription Nexium, which will still be available in 20- and 40-milligram strengths, costs $260 a month or more, without insurance coverage.

New York-based Pfizer said it’s planning consumer ads about the launch, which it’s begun promoting at www.facebook.com/Nexium24HR . Pfizer also is offering $1-off coupons for it on the website and www.coupons.com .

In 2012, Pfizer acquired exclusive worldwide rights to nonprescription Nexium from maker AstraZeneca PLC. The British drugmaker got a payment of $250 million and will receive royalties and other payments based on the level of sales.

AstraZeneca will manufacture the nonprescription version for Pfizer and continue selling prescription Nexium, which can take one to four days for full effect. It’s heavily advertised as “the purple pill that can provide 24-hour relief from persistent heartburn” caused by acid reflux disease. Unlike antacids, Nexium blocks the “pumps” that release acid into the stomach.

The Food and Drug Administration approved over-the-counter Nexium 24HR two months ago.

Last year, Nexium was the sixth-best-selling prescription drug in the world, generating revenue of $7.86 billion, up 7 percent from 2012 sales, according to health data firm IMS Health. Competition from the nonprescription version likely will reduce sales in the future.

Over the past month, Pfizer repeatedly courted AstraZeneca, offering as much as $119 billion to buy the company in what would have been the biggest pharmaceutical acquisition ever. After repeated rebuffs, Pfizer ended its pursuit Monday.

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Follow Linda A. Johnson at www.twitter.com/LindaJ_onPharma

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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