OBJECTIVES: We examined the economic consequences of generic switching within the statin market for public plans in Canada between 2000 and 2012. METHODS: We extracted data (number of units, costs, and claims) for all statins reimbursed by Canadian public drug plans for the period 2000-2012 (sources: IMS Brogan and Canadian Institute for Health Information). RESULTS: Public plans paid $11.2 BN to reimburse statins for 2 MM patients between 2000 and 2012. The annual cost of reimbursing statins peaked at $1.3 BN in 2009. Generic atorvastatin was listed by public plans in 2010, and the proportion of statin reimbursement attributable to generics increased from 18% in 2009 to 75% in 2012, reflecting a 76% increase in generic switching. During the same period, the unit cost of brands and generics fell by 25% and 49%, respectively. The combined effect of increased generic switching and lower unit costs resulted in a 55% decrease in the total cost of statins, from $1.3 BN in 2009 to $582 MM in 2012. Annual savings attributable to generic switching increased 10-fold between 2000 and 2012, from $7 to $709 MM. The efficiency at which potential savings has been captured through generic switching increased from 8% to 74% from 2000 to 2012; we project that this will generate savings of ~$800 MM annually through 2015. Increasing generic switching to 100% could generate up to an average of $135 MM annually in additional savings CONCLUSIONS: Although substantial savings have been generated by generic switching within the statin class, increasing generic switching could generate additional savings. One strategy to capture these additional savings would be disinvestment: if branded statins were de-listed from public plans if a generic version were available, this would increase generic switching, increase the efficiency at which potential savings are captured, and increase total savings.