Mylan, NCPA herald GPhA generic savings report

Generics generated $931 billion in savings over last decade, report found

PITTSBURGH — A report commissioned by the Generic Pharmaceutical Association has drawn applause from manufacturers and a retail pharmacy industry group.

Generic drug maker Mylan, a member of the GPhA, praised the report, conducted by market research firm IMS Health, showing that the use of generic prescription drugs saved consumers, patients and healthcare providers more than $931 billion over the last decade.

"Expanded use of generic drugs is one of the most effective ways to reduce healthcare costs," Mylan president Heather Bresch said. "It's also one of the only universally agreed upon solutions to concerns related to healthcare expenditures. With 1-in-every-11 prescriptions dispensed in the [United States] being a Mylan product, we are proud to do our part in helping to reduce costs for consumers, payers and the U.S. healthcare system."

The National Community Pharmacists Association heralded the report as well. “Increasing the appropriate use of generic drugs is the fastest, most effective way to reduce prescription drug costs, and independent community pharmacists are helping to lead the way," NCPA EVP and CEO B. Douglas Hoey said. "The 2011 NCPA Digest, which is a snapshot of the
community pharmacy industry in 2010, indicates that local pharmacists dispensed generic drugs more often than ever — 72% of the time, up from 69% in 2009."

 


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