2024 U.S. Generic & Biosimilar Medicines Savings Report

Generic and biosimilar medicines saved $445 billion in 2023. Representing 90 percent of prescriptions filled but only 13 percent of spending, generics and biosimilars are an integral part of the U.S. healthcare system. However, the sustainability of this industry remains fragile.

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AAM White Paper: Hatch-Waxman Turns 40

“Since the introduction of this law, we have all seen incredible savings. But even as we celebrate the success of forty years of Hatch-Waxman, those savings, the increased patient access, and a model of generic adoption that leads the world, are at risk.” —David Gaugh, Interim President & CEO, AAM.

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Seniors Pay More for Generic Medicines Every Year While Prices Continue to Fall. Why?

Avalere analysis finds Part D prescription drug plans continue to increase patient copays for generics by moving them to higher tiers.

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Working to leave a positive impact on...

Industry

We promote competition in the pharmaceutical industry by lowering barriers to entry for manufacturers of generic and biosimilar medicines and combatting anti-competitive abuses by some brand drug companies who put profits before patients.

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People

We measure our success as an industry by the lives we impact. We work to protect the low cost of generic and biosimilar medicines and to drive down the cost of developing new ones, expanding access to as many people as possible.

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We are a trusted partner and established authority within the pharmaceutical field. We provide accurate, timely data to educate policymakers and promote general public knowledge regarding the positive impact of affordable generic and biosimilar medicines.

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Policy

The Biosimilars Council works to increase patient access to lifesaving, affordable biosimilar medicines.

The council – comprised of biosimilar manufacturers and stakeholders working to promote biosimilar products in the U.S. market – strives to create a positive regulatory, reimbursement, political and policy environment to assure biosimilars thrive, ultimately providing billions in savings to patients and the health care system.

Recent Updates

Amicus Briefs

September 6, 2024
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Amarin v. Hikma

Press Releases

September 5, 2024
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Generic and Biosimilar Medicines Save $445 Billion in 2023

Reports

September 5, 2024
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