Saving of U.S. costs through generic pharmaceuticals by select therapy 2018

This statistic displays the cost savings in the United States associated with using generic pharmaceuticals in 2018, by therapeutic area. In that year, 18.5 billion U.S. dollars were saved due to generics in the nervous system disorders area. Over the last decade, an estimated two trillion U.S. dollars were saved through the use of generic pharmaceuticals in the United States.

Cost savings through generics

In 2018, generics targeting mental health and cholesterol therapies have created the greatest amount of cost savings in the U.S., totaling 46 and 38 billion U.S. dollars, respectively. Mylan and Sandoz have garnered the largest revenues of the generics market worldwide in 2018, accumulating some 11 and 10 billion dollars, respectively. In the same year, Teva lost its year-long leading position. Teva produces both the branded and generic form of Adderall, a medication used to target attention deficit hyperactivity disorder and narcolepsy.

Generic products are increasingly becoming an economically and medically sound alternative to branded products. These products are usually sold for a much lower price than branded drugs; this is due to expiry of patents which raises competition in the industry. Generic products contain the same active ingredients found in branded pharmaceutical products. Abilify (or aripiprazole) was among one of the many drugs that went generic until 2016, it retains revenue of 4.9 billion U.S. dollars annually. Generic drug products can also feed off of past advertisements and marketing efforts for the branded product.

Cost savings through generics in the United States in 2018, by select therapeutic area (in billion U.S. dollars)*

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Sources

Release date

September 2019

Region

United States

Survey time period

2018

Supplementary notes

* Only the leading therapeutic areas are listed.

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