www.fdanews.com/articles/148477-pharma-blog-watch
Pharma Blog Watch
August 6, 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.
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.