US launch of generic Lipitor confirms value of competition, says GPhA

Commenting on this week’s US roll out for generic copies of Pfizer blockbuster cholesterol lowerer Lipitor (atorvastatin) by Watson Pharmaceuticals and Ranbaxy Laboratories (The Pharma Letter December 1), the US Generic Pharmaceutical Association (GPhA)  lauded the launches as an example of the critical role generic competition plays in reducing health care costs for consumers and patients across the country.

“Beginning today, millions of Americans who take this important medication can have their next Lipitor prescription filled with the less-costly generic version,” said Ralph Neas, president and chief executive of the GPhA yesteday, adding: “I can think of no better example to highlight what a remarkable success the generic pharmaceutical industry has been in providing access to safe and effective medicines while at the same time saving hundreds of millions of dollars for consumers and lowering our country’s prescription drug bill.”

According to a recent study from IMS Institute for Healthcare Informatics and IMS Health, the use of generic medications in place of their brand counterparts has saved consumers and the American health care system $931 billion over the last 10 years. In 2010 alone, generics saved $158 billion - a savings of more than $3 billion every week.