While price is key to generic purchasing decisions, additional factors such as supply reliability, unit dose availability, contract status, and product and label quality impact most pharmacies’ purchasing decisions. Shortages continue to affect purchasing and often drive off-contract sourcing. Nevertheless, most facilities are confident that their current budgets will adequately support projected increases in generic spending. Pharmacy directors report that Fresenius Kabi, Pfizer, Major Pharmaceuticals, and Mylan are the leading generic providers by dollar volume.
While one-quarter of facilities did experience significant price inflation with their generic purchasing, a strong majority deemed their generic spending increases to be average and in some cases spending even remained flat.
Generic purchases represent a significant amount of drug budget spending.
Both generic and overall drug budgets are expected to expand at an even faster rate over the coming year.
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