Australia's GMiA advises pharmacists on maximizing profitability in 2012

Pharmacists in Australia need to act now to try to increase their dispensaries' profitability in 2012, despite Expanded and Accelerated Price Disclosure (EAPD), says the country’s Generic Medicines Industry Association (GMiA).

The key to mitigating the impact of EAPD and prospering as never before is as simple as effectively managing new generic product launches this year in partnership with members of the GMiA, namely Alphapharm, Apotex, Ascent (a Watson company), Aspen and Hospira who supply more than 90% of follow-on generic medicines in Australia.

In 2012, the GMiA members will drive hundreds of millions of savings to the Pharmaceuticals Benefits Scheme (PBS) due to the introduction of new generic medicines and statutory reforms introduced by government in 2010. Supporting the uptake of follow-on generic medicines in Australia provides a three way win for the patient, the taxpayer and the economy.