The 11th edition of the Association for Accessible Medicines' annual Access and Savings Report (see summary) reveals how much money American patients and taxpayers saved in 2018 through competition from generic drugs and biosimilar alternatives to brand-name biologic medicines. The report provides data by state, based on findings by IQVIA. We’re releasing a detailed publication later this summer.
Some notable facts from the state data:
- The average state saved $5.7 billion from the use of generics in 2018.
- Generics benefit states with a large Medicare population. The average Medicare generic savings in 2018 was $1.7 billion per state.
- Generics also benefit states with a large Medicaid population. Generics saved the average state’s Medicaid program $917 million.
All 50 states and Washington D.C. are included in the upcoming report. Here’s a three-state highlights tour:
In South Dakota (home state of AAM’s Kristin Murphy), 2018 savings totaled $793 million, which came from $412.3 million for patients with commercial insurance, $254.7 million for Medicare participants, $81 million for Medicaid enrollees and $44.7 million for non-insured patients who paid cash.
In Connecticut (home state of AAM’s Erica Klinger), savings added up to $3.6 billion in 2018, comprising $1.7 billion for patients with commercial insurance, $1 billion for Medicare participants, $744.2 million for Medicaid enrollees and $105.9 million for non-insured patients who paid cash.
In Pennsylvania (my home state), savings came to $13.7 billion in 2018, comprising $6.4 billion for patients with commercial insurance, $4.5 billion for Medicare participants, $2.3 billion for Medicaid enrollees and $406 million for non-insured patients who paid cash.
By Ashlie Van Meter, AAM Senior Director, State Government Affairs