Value of Authorized Generics
Although an Authorized Generic is the brand prescription product, an AG is technically sold as a generic, which means it is priced as competitively as other generics, and should save patients money. AGs provide all the quality benefits of brand-manufactured medications and all the cost savings of generic alternatives.
Find out more about the Value of Authorized Generics from U.S. News & World Report, May 2016.
Use of generic drugs leads to substantial cost savings for not only patients, but also the entire healthcare system. According to the 2017 Generic Drug Access & Savings in the U.S. Report compiled on behalf of the Association for Accessible Medicines (AAM) by QuintilesIMS, generics accounted for 89% of total prescriptions dispensed in 2016 (up from 57% in 2005) but only 26% of total drug costs. In addition, generics saved the healthcare system $253 billion in 2016, and accounted for a 10-year savings of $1.67 trillion.
Prasco’s Authorized Generics contribute to this substantial savings (noted in the above graphic) and help counteract rising drug costs. Our AGs are the finest quality products that encourage pharmaceutical competition, thereby increasing access to more affordable generic medicines for patients.