As the 2024 U.S. Generic & Biosimilar Medicines Savings Report shows—and as we celebrate the 40th anniversary of the Hatch-Waxman Act—it’s more critical than ever for policymakers to protect generic and biosimilar competition.
WASHINGTON (September 5, 2024) — The Association for Accessible Medicines, the trade association representing generic and biosimilar manufacturers, today released its 2024 U.S. Generic & Biosimilar Medicines Savings Report. AAM’s annual savings report reveals that the use of Food and Drug Administration (FDA) approved generic and biosimilar medicines created $445 billion in savings in 2023 for patients, employers, taxpayers, and the healthcare system—over $3 trillion in the last decade.
Each year, we look forward to hosting our members, friends, colleagues and partners for Access!, AAM’s annual meeting. Held in Orlando, Florida, this year’s conference was unique in that we also hosted the 25th Annual Meeting of the International Generic and Biosimilar Medicines Association (IGBA) in the same location, a dual experience that helped to strengthen global cooperation in our shared effort to expand patient access to more affordable generic and biosimilar medicines.
It’s the third-annual Global Biosimilars Week, a social media campaign created and driven by the International Generic and Biosimilar Medicines Association (IGBA) and its members to raise awareness about biosimilar medicines.
Steve Selde, Director of the Biosimilars Council, a division of the Association of Accessible Medicines (AAM), joins Eileen to celebrate #GlobalBiosimilarsWeek and catch up with her since she last shared her biosimilar experience.
View Eileen's story on the AAM blog: https://biosimilarscouncil.org/resource/singing-dancing-and-taking-care-of-herself-with-biosimilars/
Learn more about the annual IGBA global education initiative at https://www.globalbiosimilarsweek.org/
WASHINGTON D.C. (October 3, 2022) — The Association for Accessible Medicines (AAM) and its Biosimilars Council applaud the Centers for Medicare & Medicaid Services for its support of biosimilars and rapid implementation of the enhanced payment for biosimilars in Medicare Part B.
At a time of rising health care costs, generic and biosimilar medicines continue to generate savings and increase access to care for patients. AAM’s 2022 U.S. Generic & Biosimilar Medicines Savings Report provides new insights across a variety of settings where savings reached greater heights, benefiting patients, consumers, employers, and taxpayers alike.
Here are five key takeaways from this year’s report:
WASHINGTON, DC (September 21, 2022) — Today, the Association for Accessible Medicines (AAM), the leading trade association for generic and biosimilar manufacturers, released its 2022 U.S. Generic & Biosimilar Medicines Savings Report highlighting the value of generic and biosimilar medicines.
Featuring data from IQVIA, the 2022 U.S. Generic and Biosimilar Medicines Savings Report reveals generic and biosimilar drugs generated a record $373 billion for America’s patients and healthcare system in 2021. Despite the tremendous savings from generic drugs, many patients continue to pay more than necessary.
Congress is actively seeking to advance legislation to allow the Medicare program to “negotiate” the prices of brand drugs. However, these proposals neglect to consider the impact on the development of lower-cost generic and biosimilar medicines.