linkedin post 2013-05-16 14:06:23
THE US GENERICS INDUSTRY HAS SAVED CONSUMERS ONE TRILLION USD IN TEN YEARS (Generic Pharmaceutical Association study with IMS Health 2012). Similar savings are predicted for generic biologicals. In 1984 the Hatch-Waxman Act opened the doors for the modern generics industry by creating incentives for generic drug makers. At that time it was estimated that 10 year savings might be one billion, but by 1994 it was ~10 billion USD. Since then, those savings have grown exponentially. Many of the early innovators of the industry are now dead, but they have left a phenomenal legacy. View in LinkedIn