Study Says Generic Medications Saved $1 Trillion over the Last Decade

The American health care system saved more than $1 trillion through the use of generic medicines over the last decade.

According to a new study released by the Generic Pharmaceutical Association (GPhA), the American health care system saved more than $1 trillion through the use of generic medicines over the last decade.

The analysis conducted by IMS Health highlights the value of generic medications and serves as a reminder of the powerful ways that pharmacy benefit managers (PBMs) increase generic utilization, the Pharmaceutical Care Management Association (PCMA) said.

"Generic drugs improve outcomes and lower costs," said PCMA President and CEO Mark Merritt. "Policymakers can increase access and savings in Medicare, Medicaid, and other public programs by fully leveraging PBM tools like flexible formularies and mail-service pharmacy."