The US Generic Pharmaceutical Association (GPhA) last week released a report showing that generic drugs saved the USA’s health system $239 billion in 2013, a 14% increase over cost savings achieved in 2012, and the largest annual savings to date.
The report also calculates that generic medications saved a record of nearly $1.5 trillion over the most recent decade (2004-2013).
“Just last month, we have seen how smart health choices like opting for generic drugs hold the power to move our nation’s budget trajectory in a positive direction. In fact, recent Congressional Budget Office (CBO) estimates now predict that Medicare and Medicaid spending is expected to drop by billions over the next decade,” said Ralph Neas, president and chief executive of the GPhA.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze