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Study Finds Generic Medications Saved $1 Trillion Over Past Decade
August 3, 2012
The study was conducted for the GPhA by the IMS Institute for Healthcare Informatics.
Key findings from the new report include:
- 2011 savings from generics increased 22% over the previous 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% of the annual savings.
- In 2011, nearly 80% of the 4 billion prescriptions written in the U.S. were dispensed using generic versions of their brand-name counterpart drugs, while accounting for only 27% of the total drug spending.
To read the rest of the report, click here.
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