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Photos: Generic Pharmaceuticals Saved $734 Billion over Last Decade
Date:5/7/2009

sis of the savings created by generic utilization from 1999 through 2008. The principle objective of the analysis was to quantify the total cost savings generic pharmaceuticals provide to the overall U.S. health care system. The analysis included only those pharmaceutical molecules for which generic and brand products were available to consumers and prescribers. The analysis utilized IMS data of sales and volumes for both branded and generic products to estimate cost savings. For an explanation of the study methodology see www.gphaonline.org.

The generic substitution rate in the U.S. in 2008, according to IMS statistics, was approximately 69%, with generic medicines filling more than 2.6 billion of the approximately 3.8 billion prescriptions dispensed. However, spending on generic prescriptions accounted for just 16 cents of every dollar spent for prescription medicines.

About GPhA

GPhA represents the manufacturers and distributors of finished generic pharmaceuticals, manufacturers and distributors of bulk pharmaceutical chemicals, and suppliers of other goods and services to the generic industry. Generic pharmaceuticals filled 69% of prescriptions dispensed last year in the U.S. but consumed just 16% of the total drug spending. Additional information is available at www.gphaonline.org.

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    Charlie Mayr
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SOURCE Generic Pharmaceutical Association
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