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PCMA: New Study Confirms $217 Billion in Savings from Generic Medications in 2012
Date:12/19/2013

WASHINGTON, Dec. 19, 2013 /PRNewswire-USNewswire/ -- Generic medications accounted for more than $1 trillion in overall savings during the last decade, according to a new study released by the Generic Pharmaceutical Association (GPhA). Through innovative utilization management tools, pharmacy benefit managers are the primary drivers for increased use of generic drugs, the Pharmaceutical Care Management Association (PCMA) said today.

"This study confirms that lower cost generics continue to save employers, unions, and government payors billions of dollars on their drug costs," said PCMA President and CEO Mark Merritt. "PBMs are experts at delivering these savings through lower cost sharing, generic incentive programs, and mail-service pharmacy."

In 2012, 84 percent of prescriptions in the U.S. were filled with generics, according to IMS Health.

Key findings in the GPhA report include:

  • Over the 10-year period 2003 through 2012, generic drug use has generated more than $1.2 trillion in savings to the health care system.
  • In 2012, generics saved the U.S. health system $217 billion, up from $188 billion in 2011.

Additional findings include:

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