$25.5 billion saved by US health system through patent settlements
According to a new analysis, the US health system has saved $25.5 billion from 2005–2012 through patent settlements of generic pharmaceuticals launched prior to patent expiration.
In addition, the research by IMS Institute for Healthcare Informatics, conducted for the Generic Pharmaceutical Association (GPhA), showed that generic medicines were brought to market on average 81 months sooner than patent expiry.
If the current level of savings continues through to patent expiry for each molecule analyzed, an additional estimated $61.7 billion will be saved, equating to more than $87 billion in savings from settlements.
The analysis also found that The Federal government benefits from almost one-third ($8.3 billion) of these savings.
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