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:9/28/2017)... , Sept. 28, 2017 Cohen Veterans ... advance the use of wearable and home sensors for ... disorders. Early Signal Foundation, a nonprofit organization focused on ... will provide an affordable analytical system to record and ... ...
(Date:9/25/2017)... , Sept. 25, 2017   Montrium ... Master File solutions, today—from the IQPC Trial Master ... , NL)—announced that EastHORN Clinical Services has ... clinical programs and TMF management. EastHORN, a leading ... eTMF platform to increase transparency to enable greater ...
(Date:9/22/2017)... ROCKVILLE, Md. , Sept. 22, 2017  As ... by Republican Senators Bill Cassidy (R-LA) and ... Kalorama Information notes that the medical device industry is ... the medical device tax, the 2.3% excise tax on ... Act.  But they also want covered patients, increased visits ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... ... “The Journey: From the Mountains to the Mission Field”: the story of ... Philippines. “The Journey: From the Mountains to the Mission Field” is the creation of ... taught all ages and currently teaches a class of ladies at her church, which ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... sleep apnea using cutting-edge Oventus O2Vent technology. As many as 18 ... characterized by frequent cessation in breathing. Oral appliances can offer significant relief to ...
(Date:10/12/2017)... CITY, Fla. (PRWEB) , ... October 12, 2017 , ... ... cold therapy products, announced today the introduction of an innovative new design of the ... multipurpose pad so you get maximum comfort while controlling your pain while using cold ...
(Date:10/12/2017)... ... October 12, 2017 , ... Information about the ... to develop to enable prevention of a major side effect of chemotherapy in ... in pediatric patients. For cisplatin, hearing loss is FDA listed on-label as a ...
(Date:10/12/2017)... D.C. (PRWEB) , ... October 12, 2017 , ... Leading ... their peers in Washington, D.C., for the 49th Congress of the International Society ... ., Vice President of the Center for Cancer and Blood Disorders at ...
Breaking Medicine News(10 mins):