The latest report on generics cost savings, compiled by the QuintilesIMS Institute on behalf of the Association for Accessible Medicines, highlights the key role generics play in healthcare cost savings.
According to the QuintilesIMS Institute’s 2017 Medicine Use and Spending report, Truvada had $3.1 billion in sales on an invoice price basis in 2016, ranking 17th among the top 20 medicines in the U.S. based on invoice spending.
The National Association of Chain Drug Stores and the American Pharmacists Association shared their concerns with the Trump Administration about the potential impact of drug importation on patient safety and the delivery of value-based care.
Mallinckrodt, in an effort to focus more on branded products, is looking for a buyer for its generics division who could pay as much as $2 billion for the business, according to a Reuters report. Reuters noted that the company’s generics sales have dropped roughly 18% between 2015 and 2016 — a period during which its branded specialty sales grew by some 40%, partially through acquisitions. (Reuters)