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Mylan Applauds Study Highlighting $1 Trillion in Savings for U.S. Health Care System Due to Generic Drugs Over Past Decade
Date:8/2/2012

PITTSBURGH, Aug. 2, 2012 /PRNewswire/ -- Mylan Inc. (Nasdaq: MYL) today applauded a new study released by the Generic Pharmaceutical Association (GPhA) as further evidence of the savings and access that high quality, cost effective generic prescription drugs can bring to American consumers.

The Generic Drugs Cost Savings Study, based on an independent analysis of data by IMS Health – the world's leading provider of market intelligence to the pharmaceutical and health care industries – revealed that the use of generic prescription drugs in the U.S. has saved consumers, patients and the health care system $1 trillion over the past 10 years (2002-2011). In addition, the study found that in 2011 alone, the use of generic drugs in place of their brand counterparts generated nearly $193 billion in savings, an average of $1 billion every other day.

Mylan CEO Heather Bresch said: "As health care expenditures continue to rise in the U.S., expanded use of generic drugs has proved an effective way to provide greater access to needed medicines and reduce costs for patients, payors and governments. Mylan is extremely proud of the company's ongoing efforts to increase the availability and affordability of high quality, more affordable medicines in the U.S., where one in 11 prescriptions are filled with a Mylan product.

"Yet there still exists an important opportunity to continue expanding access to medicine while generating additional savings for America's health care system. The study released today by GPhA suggests that the tremendous savings incurred through the use of traditional generic drugs has the potential to be duplicated in the biopharmaceutical market.

"Since 1984, Americans have enjoyed access to lower cost generic drugs as a result of an approval framework known as Hatch Waxman. Inspired by the success of this framework, Congress created an ap
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SOURCE Mylan Inc.
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