Now that Rich is semi-retired, he loves to go boating on the Chesapeake Bay. He takes a generic drug to control his blood pressure.
On the other side of the country, Jeni is pursuing a graduate degree and enjoying California’s hiking trails. She takes a biosimilar medication to treat her pancolitis.
Rich and Jeni may not have a whole lot in common, but they both care about savings, quality and reliability. The savings means they can spend money on other priorities, and the quality and reliability mean that they can lead healthier, more productive and fuller lives. The nation’s secure and reliable pharmaceutical supply chain means they can count on being able to refill their prescriptions when they need to.
AAM’s 2020 Generic Drug & Biosimilars Access & Savings in the U.S. report tells the story of millions of American patients who, like Rich and Jeni, trust generic and biosimilar medications. U.S. generic savings totaled $313 billion in 2019 and nearly $2.2 trillion from 2009 to 2019. In biosimilars’ 10 years of existence in the United States, savings have totaled $4.5 billion.
The report details savings for Medicare and Medicaid participants and for all age groups. It also breaks the data down by state and condition. The bottom line: Safe, effective FDA-approved medicines save more Americans more money every year. During a time when we all realize the importance of health, Rich and Jeni’s stories are something we can all relate to.
By Rachel Schwartz, AAM Communications Director