More OGD funding to benefit US consumers

The USA's Generic Pharmaceutical Association (GPhA), at its Annual Meeting, said providing a minimal amount of additional funding for the Office of Generic Drugs will produce a tremendous return on investment, resulting in long-lasting dividends to all health care purchasers and health care programs.

"A modest investment in [the] OGD - such as $15.0 million - would help to make more affordable medicines available to consumers and public and private health care purchasers, who would save billions of dollars," said GPhA president Kathleen Jaeger, adding: "those savings also would enable the administration to reach more Americans through its priority healthcare initiatives, such as Medicare, Medicaid and programs to improve children's health care, assist the chronically ill and fight AIDS."

The Association says that generics, which cost 30% to 80% less than brands, save consumers and public and private health care purchasers billions of dollars each year. For example, Medicare anticipates that its prescription drug benefit will cost $8.0 billion less than anticipated (Marketletters passim), due in part to the use of affordable generic medicines. And, just a 1% increase in the use of generics nationwide would save $4.0 billion annually.