Vermont Business Magazine – Annual savings from generic prescription drugs totaled $377 million for Vermont, according to 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).
“Generic drugs are the foundation of any successful effort to lower health spending and increase patient access to affordable medicine,” said Chip Davis, President and CEO, GPhA. “A diverse group of experts — the federal government, pharmacy benefit managers, consumer groups and others — agree that generic drugs drive system savings, not costs. More can be done to increase patient access to safe, effective and more affordable generic medicines. GPhA will continue working with policymakers, regulators and others to bring greater health savings to our country. That effort begins with policy that builds on this industry’s record of significant savings and promotes generic competition.”
View the full report on the GPhA website at www.rxsolutions.us.
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.