According to a new IMS report (funded by the Generic Pharmaceutical Association) use of generic medicines has reduced U.S. health care spending by more than $1 trillion over the past decade.
The report notes that using inexpensive generic versions of pricier brand-name prescription drugs now saves the country about $1 billion every other day. Drugs for heart conditions and central nervous system disorders such as depression and convulsions account for 57 percent of the annual savings.
What’s missing in the report is a big “thank you” to the innovator companies who, through their scientific ingenuity, perseverance, and financial investment made the generics industry both possible and profitable.
Silent gratitude isn’t much use to anyone.
-- Gertrude Stein