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(2008; 12 pages)
Payers in Europe and North America have embraced generic medicines because of their perceived cost advantages in relation to branded products and the savings they create to health insurance. A robust body of evidence exists to date pointing at savings achieved through genericization. All stakeholders accept that realizing these savings is desirable as health systems face continuous cost pressures and demands to invest in new technologies.
However, the questions that arise are whether savings from genericization are robust across different policy settings and whether regulation of (generic) pharmaceutical markets has any bearing on their magnitude. This article explores these questions alongside summarizing some of the key generic policies as they prevail in seven key OECD countries.