International Generic and Biosimilar Medicines Association recently released the report, "A Vision for the Global Generic and Biosimilar Medicines Industry,” covering the current global Generic and Biosimilar medicine industry, and released a vision of what the market will be in 2030 and how to achieve it.
Low prices and some gaming of regulations can drive out competitors and create monopolies that allow generic makers to jack up their prices. Experience has shown that it often takes multiple generics to achieve the promised-for downward pressure on prices.
Generic drugs account for 90% of the prescriptions filled in the United States. They are the backbone of healthcare providers’ treatment protocol and they are remarkably cost effective: despite being 90% of the prescriptions filled, generics account for only 20% of drug spending.