As in previous years, the tenth edition of this annual report presents the independent findings of IQVIA regarding the savings that our companies bring about. In 2017, generics generated a total of $265 billion in savings. Savings for Medicare and Medicaid amounted to $82.7 billion and $40.6 billion, respectively, which translates to an average $1,952 for every Medicare enrollee and $568 for every Medicaid enrollee.
Anybody who cares about the U.S. health care system, and all the patients who depend on it, should recognize the role that generic and biosimilar medicines play in keeping people healthy and productive. AAM believes that this report will inform the conversation, in Washington D.C. and in state capitals, about how to rein in prescription drug prices. To accomplish our shared national goal we need to keep medicines accessible, preserving and, indeed, expanding generic savings must remain a priority.