As the Times story correctly notes, efforts by brand companies to erect barriers to competition from lower cost generic versions of their drugs have been going on for decades. But as is true with traditional prescription drugs, competition from safe, effective and more affordable biosimilars will, in the coming years, provide patients the savings they need while delivering the lifesaving therapy they depend upon.
According to an analysis by IMS Health published August 2, 2012, generic medicines saved the U.S. health care system more than $1 trillion over the past decade, $192 billion in 2011 alone. We are confident that the use of safe and effective bisimilars will achieve similar savings.
GPhA represents the manufacturers and distributors of finished generic pharmaceuticals, manufacturers and distributors of bulk pharmaceutical chemicals, and suppliers of other goods and services to the generic industry. Generic pharmaceuticals fill 80 percent of the prescriptions dispensed in the U.S. but consume just 27 percent of the total drug spending. Additional information is available at gphaonline.org.
Generic Pharmaceutical Association - 777 Sixth Street, NW, Suite 510 - Washington, D.C. 20001
|SOURCE Generic Pharmaceutical Association|
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