10- Year Savings from Generic Drugs Soar by 328 Percent
WASHINGTON, DC (October 17, 2016) – A webinar on Wednesday, October 19, 2016 at 10:30 AM Eastern Time will unveil findings from the new 2016 Generic Drug Savings and Access in the United States report compiled by the QuintilesIMS Institute on behalf of the Generic Pharmaceutical Association (GPhA). The report details the savings generic drugs generate for the U.S health care system.
Annual savings from generic prescription drugs rose 328 percent in 10 years (2005-2016), according to the new report. Generic drugs saved American consumers and the U.S. health care system $1.46 trillion from 2006-2015, reaching $227 billion in 2015.
RSVP: Steve Arnoff 202.249.7113 or sarnoff@gphaonline.org
When: October 19, 2016, 10:30 AM Eastern Time
Who: Chip Davis, President and CEO, Generic Pharmaceutical Association
Murray Aitken, Executive Director, QuintilesIMS Institute
Webinar details: Presentation: https://www.conferenceamerica.com/webecho/GuestLogin.aspx?ConfRef=55108373&Pin=2369
Audio:
Dial: 1-800-351-4890 USA - DOMESTIC
1-334-323-7224 USA – INTERNATIONAL
Access Code: 4655
“Savings from generic drugs are essential but they are not automatic,” said Chip Davis, President and CEO, GPhA. “The success of our industry rests on a fragile balance between innovation and competition. This framework must be preserved and improved, and these savings must not be taken for granted. Policymakers can take steps today to increase generic competition and expand patient access to more affordable generic medicines.”
About GPhA
GPhA represents the manufacturers and distributors of finished generic pharmaceuticals, manufacturers and distributors of bulk pharmaceutical chemicals, and suppliers of other goods and services to the generic industry. Generic pharmaceuticals fill 89 percent of the prescriptions dispensed in the U.S. but consume just 27 percent of the total drug spending. Additional information is available at www.gphaonline.org. Follow us on twitter: @gpha.
