FDA: Generics approved in 2017 led to $8.8 billion in savings

FDA estimates that generic drugs approved in 2017 led to $8.8 billion in cost savings during the calendar year, and $11.8 billion in savings through February 2018. The estimate is based on pharmacy acquisition costs and does not reflect rebates, discounts, or off-invoice adjustments.

FDA estimates that generic drugs approved in 2017 led to $8.8 billion in cost savings during the calendar year, and $11.8 billion in savings through February 2018. The estimate is based on pharmacy acquisition costs and does not reflect rebates, discounts, or off-invoice adjustments. FDA's Office of Generic Drugs approved a record 1,027 abbreviated new drug applications in 2017, 843 of which were fully approved. FDA estimates that the total full-year savings from generics approved in 2017 will be $16 billion, using extrapolated data to fill in for products that were not approved for a full year by the end of February 2018.