Championing Access to Generics
Healthcare systems and funding vary greatly by country, but in most if not all cases, generic products are able to be provided significantly below the originator’s price, bringing benefits to patients, governments, insurers and others within the healthcare system. Below is a summary of the important role generics play in key geographies across the globe.
Mylan is the No. 2 provider of prescription medicines in the U.S. In 2017 generics represented approximately 89% of all pharmaceutical products sold in the nation.6 In contrast, generics constituted only 26% of U.S. pharmaceutical spend. A further illustration of these savings: In 2016 generics saved the U.S. healthcare system $253 billion.7 Approximately $25 billion of that amount represents savings from Mylan generics.
Over the past 10 years, generic medicines have more than doubled access in seven key therapeutic areas – without increasing overall treatment cost – benefiting millions of patients.8 In 2016 generic pharmaceuticals represented 56% of the medicines used in the region, but only 22% of total drug costs.9 The countries that make up Mylan’s business in Europe represent the world’s second largest generic pharmaceuticals market.