Over the last few years, generic drugs – low-cost copies of branded drugs – have been gaining in volume and market share. Typically priced at significant discounts (50%-70%) to their branded counterparts, health plans and governments around the world, which are dealing with rapidly increasing costs and aging populations, have actively encouraged and promoted their use. Today in the US, generic drugs account for 88% of all prescriptions filled and according to latest IMS report, generics may account for 91%-92% of prescription volumes by 2020.
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