Navigation Links
Mylan Applauds Study Highlighting $931 Billion in Savings for U.S. Health Care System Due to Generic Drugs

PITTSBURGH, Sept. 22, 2011 /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.

According to the independent analysis of data conducted by IMS Health, the world's leading provider of market intelligence to the pharmaceutical and health care industries, the use of generic prescription drugs in place of brand name counterparts saved consumers, patients and health care providers more than $931 billion within the past decade (2001-2010). In addition, the report found that in 2010 alone, generic drug use generated nearly $158 billion in savings, an average of $3 billion every week.

Mylan President Heather Bresch said: "Expanded use of generic drugs is one of the most effective ways to reduce health care costs. It's also one of the only universally agreed upon solutions to concerns related to health care expenditures. With one in every 11 prescriptions dispensed in the U.S. being a Mylan product, we are proud to do our part in helping to reduce costs for consumers, payers and the U.S. health care system. While generic drugs now account for more than 75% of prescriptions dispensed in this country, there is still room to increase utilization, expand access and further increase savings.

"The substantial savings generated by generic drugs can be credited in large part to the successful implementation and evolution of the 1984 law, which Congress intended to encourage increased access to generic prescription drugs.  We now have an opportunity to achieve far greater savings through increasing access to biogeneric medicines in the U.S.  

"Effective biogeneric competition within the biologics market will provide consumers with enhanced access to lifesaving treatments – treatments out of reach to many who cannot afford the tens and even hundreds of thousands of dollars a year in current costs. However, the statutory framework passed last year to bring consumers access to biogenerics has not yet resulted in a fully effective approval process.

"Mylan urges the U.S. Food and Drug Administration, the White House and members of Congress to encourage approval of, and earlier access to, interchangeable biogenerics. Without the establishment of a viable biogenerics approval pathway, consumers and payers will not benefit from the significant savings biogenerics can deliver."

The report released by the GPhA on Sept. 21 outlines a series of policy recommendations for the U.S. government. These include:

  • increasing the use of generics by Medicaid and Medicare programs,
  • avoiding a ban on patent litigation settlements,
  • increasing funding to the FDA's Office of Generic Drugs, and
  • creating an approval pathway for biogeneric pharmaceuticals.

Mylan echoes these recommendations as they will help to ensure that millions of Americans can continue to count on a reliable supply of safe, effective and affordable generic prescription drugs.

About Mylan

Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 150 countries and territories. The company maintains one of the industry's broadest and highest quality product portfolios supported by a robust product pipeline; operates one of the world's largest active pharmaceutical ingredient manufacturers; and runs a specialty business focused on respiratory, allergy and psychiatric therapies. For more information about Mylan, please visit For more information about generic drugs, please visit

SOURCE Mylan Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Mylan Announces XELODA® Settlement and License Agreement
2. Mylans Matrix Receives Tentative FDA Approval Through PEPFAR for Novel "Co-Packaged" Version of HIV/AIDS Treatment
3. Mylan Launches Generic Version of Uroxatral® Tablets
4. Mylan Announces U.S. PTO Intends to Reissue Two Perforomist® Patents to Dey Pharma
5. Mylan Launches First Generic Version of Entocort EC® Capsules
6. Mylan Receives Approval for Generic Version of Aricept® Tablets
7. Mylan Receives Approval for Generic Version of Effexor XR® Capsules
8. Mylan Launches Generic Version of Roxicodone® Tablets
9. Mylan Launches Generic Version of Depakote® Sprinkle Capsules
10. Mylan Launches First Generic Version of Xibrom® Ophthalmic Solution
11. Mylan Launches First Generic Version of Amrix® Capsules
Post Your Comments:
(Date:6/23/2016)... Research and Markets has announced the addition of ... Forecast to 2022" report to their offering. ... date financial data derived from varied research sources to present ... impact on the market during the next five years, including ... sub markets, regional and country level analysis. The report provides ...
(Date:6/23/2016)... RIDGE, Ill. and INDIANAPOLIS ... of students receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship ... The 2016 scholarship winners, announced today online at ... to let type 1 diabetes stand in the way ... Diabetes has supported the Foundation,s scholarship program since 2012, ...
(Date:6/23/2016)... Research and Markets has announced ... Analysis (United States, China, Japan, Brazil, United Kingdom, Germany, ... offering. Surgical Procedure ... planners, provides surgical procedure volume data in a geographic ... in-depth analysis of growth drivers and inhibitors, including world ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... ... today announced its strategic partnership with Connance, a healthcare industry leader providing ... companies’ proven, proprietary technology combine to provide health systems, hospitals and ambulatory ...
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A ... 2016 Cereal Festival and World’s Longest Breakfast Table in Battle Creek, MI, where the ... history as home to some of the world’s leading providers of cereal and other ...
(Date:6/26/2016)... ... June 26, 2016 , ... ... they have been diagnosed with endometriosis. These women need a treatment plan to ... a comprehensive approach that can help for preservation of fertility and ultimately achieving ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... "With 30 ... their specific project," said Christina Austin - CEO of Pixel Film Studios. , ... and all within Final Cut Pro X . Simply select a ProHand generator ...
(Date:6/25/2016)... ... 2016 , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland ... iHire in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness ... & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of ...
Breaking Medicine News(10 mins):