The Medicine Maker / Issues / 2016 / Articles / Nov / Generics Deliver Savings
Manufacture Biosimilars

Generics Deliver Savings

Generic drugs are cheaper than branded medicines, but how much do they save payers each year?

By James Strachan 11/21/2016 1 min read

Share

The latest Generic Drug Savings and Access Report, commissioned by the Generic Pharmaceutical Association, found that generic medicines save the US around $230 billion each year (1). The findings build upon those of a report published last year, which found that generics save the European Union around €100 billion ($112 billion) per year (2). Check out our infographic for more of the findings.

References

  1. GPhA, “2016 generic drug savings & access in the United States Report”, (2016). Available at: http://bit.ly/2f7CcqT. Accessed November 4, 2016. IMS Institute for Healthcare Informatics, “The role of generic medicines in sustaining healthcare systems: a European perspective”, (2015). Available at: http://bit.ly/2eumuYz. Accessed November 4, 2016.

About the Author(s)

James Strachan

Over the course of my Biomedical Sciences degree it dawned on me that my goal of becoming a scientist didn’t quite mesh with my lack of affinity for lab work. Thinking on my decision to pursue biology rather than English at age 15 – despite an aptitude for the latter – I realized that science writing was a way to combine what I loved with what I was good at. From there I set out to gather as much freelancing experience as I could, spending 2 years developing scientific content for International Innovation, before completing an MSc in Science Communication. After gaining invaluable experience in supporting the communications efforts of CERN and IN-PART, I joined Texere – where I am focused on producing consistently engaging, cutting-edge and innovative content for our specialist audiences around the world.

More Articles by James Strachan

Recommended

Related Content

The Monoclonal Milestone
Biosimilars
The Monoclonal Milestone

December 1, 2014

0 min read

The launch of the world’s first biosimilar monoclonal antibody was a big step forward from a regulatory and scientific standpoint. Will there be enough room at the table?

Safety First - Sizing Up Biologics Side Effects
Standards & Regulation Biosimilars
Safety First - Sizing Up Biologics Side Effects

December 2, 2014

0 min read

Biologic medicines present unique challenges for pharmacovigilance. And with biosimilars hitting the market, life just got more complicated – especially when products share the same name.

Singular Head of Generics
Biosimilars
Singular Head of Generics

November 6, 2014

0 min read

Sitting Down With… Nick Haggar, Head of Western Europe, Middle East & Africa, Sandoz, and President of the European Generic Medicines Association (EGA).

Celebrating the Potential of Biosimilars
Supply Chain Biosimilars Bioprocessing - Upstream & Downstream
Celebrating the Potential of Biosimilars

February 5, 2025

3 min read

A look at how biosimilars can increase patient access to essential medicines, as well as improve performance in national and international healthcare systems.