BOCA RATON, Fla., Feb. 12 /PRNewswire/ -- More than 400 generic industry leaders, financial experts and political officials gathered today for the Generic Pharmaceutical Association (GPhA) Annual Meeting to discuss the critical issues facing the generic industry in 2008. With the theme of "Generics: The Right Choice for Better Health," conference participants discussed the industry opportunities and challenges in this important legislative and election year.
"Voters are going to the polls with access to affordable health care at the top of their minds," said GPhA President Kathleen Jaeger. "Generics -- and biogenerics -- are the solution to reducing health care costs while increasing access to quality care. With generics saving consumers and the federal government billions of dollars a year, it's clear that generics are the right choice for better health."
Today 65% of all U.S. prescriptions dispensed are filled with generics, at costs of 30% to 80% less than brands. This offers substantial savings for consumers, state governments and the health care system. In fact, a 1% increase in generic use saves consumers $4 billion annually.
On Capitol Hill and in state capitals across the country, the generic
industry will be working to help consumers receive greater access to
affordable medicines by:
-- Encouraging passage of federal legislation to create a safe and
workable Food and Drug Administration (FDA) approval pathway that
provides timely access to biogeneric medicines. Brand
biopharmaceutical medicines can cost hundreds of thousands of dollars
per patient, per year. Safe and effective generic versions of
biopharmaceutical medicines, or biogenerics, would save consumers
billions of dollars and provide countless patients with access to
-- Removing longstanding barriers to consumer access to generics
|SOURCE Generic Pharmaceutical Association (GPhA)|
Copyright©2008 PR Newswire.
All rights reserved