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7 Aug 2012

Generics Save Consumers Billions of Pounds

Consumers and national healthcare systems make significant savings as a result of generic medicines usage, a report has confirmed.

A new report has highlighted the significant savings that can be made by using generic drugs rather than branded medicines.


The Generic Pharmaceutical Association (GPhA) says that generic prescription drugs save consumers and the US healthcare system approximately $1 billion every two days.


This means that a total of $193 billion was saved in 2011, while generics have provided savings of more than $1 trillion over the past ten years.


The figures come from an independently conducted analysis performed by the IMS Institute for Healthcare Informatics.


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