Navigation Links
PCMA: New Study Finds Generic Medications Saved $1 Trillion Over the Last Decade
Date:8/2/2012

WASHINGTON, Aug. 2, 2012 /PRNewswire-USNewswire/ -- The American health care system saved more than $1 trillion through the use of generic medicines over the last decade, according to a new study released by the Generic Pharmaceutical Association (GPhA). The analysis conducted by IMS Health highlights the value of generic medications and serves as a reminder of the powerful ways that pharmacy benefit managers (PBMs) increase generic utilization, the Pharmaceutical Care Management Association (PCMA) said today.

"Generic drugs improve outcomes and lower costs," said PCMA President and CEO Mark Merritt. "Policymakers can increase access and savings in Medicare, Medicaid, and other public programs by fully leveraging PBM tools like flexible formularies and mail-service pharmacy."

Key findings from the IMS report include:

  • 2011 savings from generics increased 22 percent over the prior year, marking the largest year-over-year increase since 1998, and 10 percentage points higher than the 10-year average.
  • Savings from newer generic medicines—those that have entered the market since 2002—continue to increase exponentially, totaling $481 billion over the past 10 years.
  • Generic versions of central nervous system (CNS) drugs, such as antidepressants and anticonvulsants, and cardiovascular drugs account for 57 percent of the annual savings.
  • In 2011, nearly 80 percent of the 4 billion prescriptions written in the U.S. were dispensed using safe and effective generic versions of their brand name counterpart drugs.

PCMA represents the nation's pharmacy benefit managers (PBMs), which improve
affordability and quality of care through the use of electronic prescribing (e-prescribing),
generic alternatives, mail-service pharmacies, and other innovative tools for 216 million Americans.

Follow PCMA on Twitter


'/>"/>
SOURCE Pharmaceutical Care Management Association
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Mylan Applauds Study Highlighting $1 Trillion in Savings for U.S. Health Care System Due to Generic Drugs Over Past Decade
2. Medical College Of Wisconsin To Study New Incontinence Device
3. New Study Finds Use of Generic Prescription Drugs Saved Consumers and the U.S. Health Care System $1 Trillion over Past Decade
4. Ranbaxy Commends New IMS Study Which Credits Generic Prescription Drugs With $1 Trillion Savings In U.S. Health Care Costs Over Past 10 Years
5. In Pilot Study, a Peptide Controls Blood Sugar in People with Congenital Hyperinsulinism
6. Concordia Study Indicates Obesity is Becoming the Nations Top Health Issue
7. Vermillion Announces Positive Top-Line Results from the OVA500 Multi-Center Study Led by UC Irvine
8. French Government Agrees to Fund Study of the PneumRx RePneu Lung Volume Reduction Coil
9. Gentris Corporation Announces Collaboration to Study Blood Stability
10. New Study Reveals Wide Variation in Blood Transfusion Practices During Surgery
11. Psyadon Announces Positive Interim Analysis of Phase 2 Study of Ecopipam for the Treatment of Tourette Syndrome
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... Jazz Pharmaceuticals plc (Nasdaq: JAZZ ) announced ... Act of 1976, as amended ("HSR"), with respect to ... CPXX ) expired effective June 24, 2016, ... previously announced on May 31, 2016, Jazz Pharmaceuticals and ... Jazz Pharmaceuticals has commenced a tender offer for all ...
(Date:6/24/2016)... , June 24, 2016  Global Blood ... biopharmaceutical company developing novel therapeutics for the treatment ... today announced the closing of its previously announced ... stock, at the public offering price of $18.75 ... offering were offered by GBT. GBT estimates net ...
(Date:6/24/2016)... -- Dehaier Medical Systems Ltd. (NASDAQ: DHRM ... sells medical devices and wearable sleep respiratory products in ... agreement with Hongyuan Supply Chain Management Co., Ltd. (hereinafter ... 2016, to develop Dehaier,s new Internet medical technology business. ... leverage Hongyuan Supply Chain,s sales platform to reach Dehaier,s ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, a Media Slicing ... their videos a whole new perspective by using the title layers in ProSlice ... , ProSlice Levels contains over 30 Different presets to choose from. FCPX ...
(Date:6/26/2016)... ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified personal trainer ... through a fitness app. The fitness app plans to fix the two major problems leading ... a one size fits all type program , They don’t eliminate all the ...
(Date:6/25/2016)... ... June 25, 2016 , ... ... issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the ... several important health care topics including advance care planning, healthcare costs and patient ...
(Date:6/25/2016)... FL (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton Memorial ... Plant City Observer , brings up a new, often overlooked aspect of head lice: the ... closing for fumigation is not a common occurrence, but a necessary one in the event ...
(Date:6/25/2016)... , ... June 25, 2016 , ... First Choice ... States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm ... Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical ...
Breaking Medicine News(10 mins):