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Saving of U.S. costs through generic pharmaceuticals by therapy 2017

Cost savings through generics in the United States in 2017, by therapeutic area (in billion U.S. dollars)*

by Matej Mikulic, last edited Jul 17, 2018
Saving of U.S. costs through generic pharmaceuticals by therapy 2017 This statistic displays the cost savings in the United States associated with using generic pharmaceuticals in 2017, by therapeutic area. In that year, 16 billion U.S. dollars were saved due to generics in the nervous system disorders area. Over the last decade, an estimated 1.67 trillion U.S. dollars were saved through the use of generic pharmaceuticals in the United States.
Cost savings through generics

In 2017, generics targeting mental health and cholesterol therapies have created the greatest amount of cost savings in the U.S., totaling 42 and 32 billion U.S. dollars, respectively. Teva and Mylan have garnered the largest revenues of the generics market worldwide in 2016, accumulating nearly 10 billion dollars each. For example, 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.
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Cost savings through generics in the United States in 2017, by therapeutic area (in billion U.S. dollars)*

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