Media

Press Release

GPhA Statement Regarding New AARP Study That Concludes: “Looking to Save on Drugs? Go Generic”

Arlington, VA, April 16, 2009 – The Generic Pharmaceutical Association (GPhA) today released the following statement from GPhA President and CEO Kathleen Jaeger on AARP’s new RX Watchdog Report that stated while brand prescription drug prices rose by nearly 9%, generic drug prices decreased an average of 10.6% in 2008.

“For seniors, and all Americans, struggling with rising health care costs, generic medicines are simply the right choice for better health. During these difficult economic times, it is truly disturbing to hear reports that our nation’s seniors cannot afford their prescription drug costs. No one should be forced to choose between putting food on their table and paying for needed medicines.

“As this new AARP report concludes, consumers should talk to their health care providers about their prescription drug options. With brand drug prices rising higher than they have for the last six years, we’re seeing more Americans switching to affordable generic medicines. Earlier this year, 81% of Americans said they would choose a generic medicine over a brand name drug, according to a nationwide Gallup survey. That’s because generic medicines are the same medicines as brands with the same safety and effectiveness, they just are much more affordable. In some cases, generic medicines cost up to 80% less than the brand drug.

“It is also important to note than in examining specialty drugs that treat serious conditions like cancer and rheumatoid arthritis, the AARP report revealed that the price of these needed medicines jumped 9.3% from 2007 to 2008. Many of these specialty drugs are biologics and, therefore, do not have a more affordable generic option because FDA has not been given the authority to create a pathway for generic biologics. This means that countless seniors have no alternative than to pay thousands of dollars a year on medicines they must have to treat devastating illnesses.

“It’s time to do right by our seniors and all Americans struggling with health care costs by approving legislation that brings safe, effective and affordable biogeneric medicines to patients sooner rather than later. GPhA also strongly believes that increasing funding for FDA would ensure the more timely approval of generic medicines, increasing the opportunity for consumers to save immediately.

“As our leaders work to reform our health care system, reducing health care costs while ensuring the delivery of quality care is goal number one. Increasing access to generic and biogeneric medicines will help our leaders achieve this goal.”

GPhA represents the manufacturers and distributors of finished generic pharmaceuticals, manufacturers and distributors of bulk active pharmaceutical chemicals, and suppliers of other goods and services to the generic drug industry. Generics represent 69% of the total prescriptions dispensed in the United States, but only 16% of all dollars spent on prescription drugs. For more information about the industry, visit www.gphaonline.org.
###

Search Press Releases