FDAnews Drug Daily Bulletin

Pharma Blog Watch

Aug. 7, 2012
Generics and Savings (Drug Wonks blog)
In the past decade, generic use reduced healthcare spending more than $1 trillion, according to a new IMS report funded by the Generic Pharmaceutical Association. “The report notes that using inexpensive generic versions of pricier brand prescription drugs now saves the country about $1 billion every other day,” blogger Peter Pitts writes. Fifty-seven percent of the annual savings included drugs to treat heart conditions and central nervous system disorders. “What’s missing in the report is a big ‘thank you’ to the innovator companies who, through their scientific ingenuity, perseverance and financial investment made the generics industry both possible and profitable,” he says.