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:5/4/2016)... Yissum Research Development Company ... that it had signed an exclusive world-wide licensing and ... novel protein degradation and immunomodulatory drugs for cancer and ... candidates representing first-in-class therapy for hematologic and solid malignancies. ... The novel technology was developed by Yinon ...
(Date:5/4/2016)... 2016 Research and ... Acute Myeloid Leukemia Market and Competitive Landscape ...      (Logo: http://photos.prnewswire.com/prnh/20160330/349511LOGO ... and Competitive Landscape Highlights 2016, provides comprehensive ... Acute Myeloid Leukemia epidemiology, Acute Myeloid Leukemia ...
(Date:5/3/2016)... Research and Markets has announced the addition ... Outlook 2020" report to their offering. ... has improved significantly in past years due to which ... years. Many cancer drugs have been developed by utilization ... expected to be developed with its help. They are ...
Breaking Medicine Technology:
(Date:5/6/2016)... New York, NY (PRWEB) , ... May 06, 2016 , ... ... Pelagos Hotel & Resort on the north end of the island close to the ... from July 17th- August 10th 2016. , “We continue to have an amazing ...
(Date:5/6/2016)... Utah (PRWEB) , ... May 06, 2016 , ... ... Step, an online provider of career-focused education and corporate training, and the National ... are pleased to announce Maritza Aquino as the second full-tuition scholarship recipient of ...
(Date:5/5/2016)... ... May 05, 2016 , ... TransWipe Volume 3 is a ... Drag and drop a TransWipe preset between two video clips to instantly add a ... to colored panels with customizable color and orientation options. TransWipe Volume 3 is a ...
(Date:5/5/2016)... ... May 05, 2016 , ... The U.S. ... cigarettes, requiring e-cigarette manufacturers to submit their products through an arduous federal approval ... vaping products that entered the market since February 15, 2007. That would essentially ...
(Date:5/5/2016)... SAN FRANCISCO (PRWEB) , ... May 05, 2016 ... ... in the Unites States to promise successful results with IVF and with egg ... Designed to deliver the most patient-centric and highest quality fertility care, Spring Fertility ...
Breaking Medicine News(10 mins):