WASHINGTON — The Generic Pharmaceutical Association on Friday applauded the launch of the bipartisan Affordable Medicines Caucus, co-chaired by Reps. Peter Welch, D-Vt., and Keith Rothfus, R-Pa.
“Members of both parties agree: taking full advantage of generic medicines is a common sense way to save billions of dollars for the government, and for millions of Americans,” stated Ralph Neas, president and CEO GPhA. “Indeed, an IMS health analysis released by GPhA in December 2013 showed that generic pharmaceuticals have achieved $1.2 trillion in savings over the past decade, nearly $217 billion in 2012 alone, all of which translates to more than one billion dollars in savings every other day.”
The caucus will share the latest information on the positive impact of generics on cost savings and help legislators track the latest developments in the field. “Working together,” Neas said, “we can build on the tremendous 30-year track record of bipartisan cooperation that has resulted in unprecedented access to safe, affordable and life-changing generic medicines in America and around the world.”