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Generic drug industry facts

The generic drug industry is now such as massive part of the USA Healthcare system that is worth understanding some of the amazing statistics linked to this industry:

Generic drug industry headline fact

Over the past ten years (2007-2016), generic drugs have saved $1.68 trillion for the American healthcare system.

 Top 10 Generic drug industry facts

  1. U.S. spending on medicines will reach $560 billion to $590 billion in 2020, (Source : IMS)
  2. Over 18 of the worlds top 20 brand drugs are came off patent in the last 5 years
  3. $30 billion of US branded drugs will had generic competitors from 2012
  4. U.S. generic prescriptions now account for over 88% of all prescriptions in the U.S, (Source : IMS)
  5. Global generic drug industry manufacturer sales: $83 billion in 2009 (Source : IMS)
  6. U.S. generic pharmaceutical manufacturer sales : $34 billion in 2009 (Source : IMS)
  7. U.S. brand pharmaceutical manufacturer sales for 2007: $228 billion.
  8. Approximately 83% of drugs listed in the FDA Orange Book have generic counterparts. (source: FDA, MedAd News)
  9. The top five U.S. corporations by unbranded generic prescriptions dispensed are Teva Pharmaceuticals USA, Mylan Inc., Sandoz (Novartis), Watson Pharmaceuticals and Mallinckrodt.
  10. BCC Research estimates the global generic drugs market to reach $129.3bn by 2014, representing a 9% annual growth rate.

Generic drug industry - Top 10 prescription generic drugs sold in USA 2014

The top 10 generic prescription drugs filled in 2014 in the United States in order of sales were:-

OMEPRAZOLE (RX)73,161,061

Source: IMS Health

More U.S.A generic drug industry facts

  1. Generic pharmaceutical drugs fill nearly 2.6 billion prescriptions every year.
  2. Generic drugs account for only about 22% of prescription drug spending in the U.S., although they represent nearly 75% of the prescriptions written, according to the research firm IMS Health. This means 78% of the nation's drug bill goes toward the 25% of prescriptions that are fulfilled by brand name medicines.
  3. In 2007, the average retail price of a brand name prescription drug was $119.51, yet the average retail price of a generic prescription drug was only $34.34 - a massive difference of over 200% for what are effectively the same product (source: The National Association of Chain Drug Stores, 2007)
  4. From a 1998 study by the Congressional Budget Office, generic drugs save consumers between $8 billion and $10 billion each year.
  5. The generic drug industry is growing at more than 7.8%, a pace that is faster than the world pharmaceutical market. (source: IMS Health). This pace is expected to grow as more blockbuster branded drugs come off their patents and patients increasingly look to cheaper generics to reduce their healthcare costs
  6. There is a continuing emergence of new generic drugs due to the significant numbers of blockbuster products coming off their patents from 2009, including AmbienCR, Arimidex, Cellcept, Keppra, Flomox,Imigran, Lipitor, Plavix, Prevacid, Topamax, Valtrex and Zyprexa
  7. US brand pharmaceutical companies are continuing to purchase generic drug manufacturers so that they can increase their generic drug market share and profits
  8. To improve public health and reduce health care costs, the FDA is constantly evaluating the generic drug review program to find ways to increase efficiency and ensure quality products are on the marketplace as soon as possible
  9. The Asian Pharmaceutical drug market is expected to be one of the fastest growing in the world with sales of $8 billion in 2009 (Source : Global Information Inc)

For more information about generics, please see our Generic Drug Information Center.


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