Report: 2023 U.S. Generic and Biosimilar Medicines Savings Report
Featuring data reported by IQVIA, the 2023 U.S. Generic & Biosimilar Medicines Savings Report reveals generic and biosimilar drugs generated a record $408 billion for America’s patients and healthcare system in 2022. Generic medicines are an integral part of our health-care system, expanding patient access through competition and lower prices. And a new wave of […]
2023 Report
2023 Savings Report U.S. Generic and Biosimilar Medicines Savings Report Generics and biosimilar medicines deliver more savings every year. At a moment when policymakers are contemplating measures to reduce drug prices for American patients, AAM’s 2023 U.S. Generic and Biosimilar Medicines Savings Report, featuring data from IQVIA, breaks the savings down by state, age, payer, […]
Generic and Biosimilar Drugs Generate $408 Billion in Savings For America’s Patients and Health-Care System in 2022
But the sustainability of generic competition is at risk WASHINGTON, DC (September 6, 2023) — Today, the Association for Accessible Medicines (AAM), the leading trade association for generic and biosimilar manufacturers, released its 2023 U.S. Generic & Biosimilar Medicines Savings Report highlighting the value of generic and biosimilar medicines. According to the analysis, the U.S. […]
AAM Requests Federal Injunction to Block Minnesota’s Unconstitutional Drug Price Law
Generic Pharmaceutical Trade Group Steps in to Protect Patient Access to Affordable Generic Drugs WASHINGTON, DC (JULY 5, 2023) – The Association for Accessible Medicines (AAM), the trade association representing America’s manufacturers of generic and biosimilar medicines, today filed a lawsuit against Minnesota Attorney General Keith Ellison, requesting that the federal district court in Minnesota […]
Study Finds Middlemen Increasingly Block Patient Access to New Generics
New Report Shows the Extent to Which Plans and PBMs Delay Patient Access to Lower-Cost Generics WASHINGTON, DC (January 23, 2023) — The Association for Accessible Medicines (AAM) today released a new report showing that drug supply chain middlemen like health plans and pharmacy benefit managers (PBMs) increasingly block patient access, delaying coverage of new […]
Generics and Biosimilars Offer Savings for Patients Fighting Cancer, Heart Disease and Other Conditions
Generic and biosimilar medicines improve access and affordability for the millions of people with illnesses like asthma, arthritis, heart disease, and depression. While we now have effective treatment options to help patients manage their conditions, many brand drugs come with steep price tags. Fortunately, there are more affordable generic and biosimilar treatments that reduce costs […]
Patients Pay More When Generic Drugs Are Placed On Non-Generic Tiers, Even Though Prices For Generics Are Going Down
Numerous studies agree: Generics provide savings on prescription drugs. And six years into a sustained period of price deflation, many generic prices are lower than ever. But inexplicably, patients are paying more for many generics. Although the Medicare program has rules to safeguard beneficiaries, it has allowed Medicare drug plans to make changes that require […]
AAM Statement on President Biden’s Executive Order on Lowering Prescription Drug Costs
WASHINGTON D.C. (October 14, 2022) — The Association for Accessible Medicines (AAM) and its Biosimilars Council commend today’s Executive Order. “It is critical that the Administration take steps to address the perverse incentives created by brand drug rebates that undermine adoption of lower cost generics and biosimilars,” said Craig Burton, Executive Director of the Biosimilars Council and […]
How to Talk to Voters About the High Cost of Medicines and Ways to Lower Them
A Reference Guide for Lawmakers With record high inflation, voters are concerned about the rising costs of goods – including life-saving medicines. AAM developed a resource for lawmakers to provide effective communications around the ever-increasing costs of medicines. This guide includes facts about generic and biosimilar medicines, the problems causing the high cost of medicine […]
Generic and Biosimilar Drugs Generate A Record $373 Billion For America’s Patients and Healthcare System in 2021
Despite Savings from Generic Drugs, Many Patients Continue to Pay More than Necessary 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. According to […]
Generics & Biosimilars Continue to Reward Patients, Employers and Taxpayers
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 […]
AAM Statement: New Study Shows Formulary Abuses Force Patients to Pay More for Generic Drugs Even as the Prices of Those Drugs Go Down
WASHINGTON, D.C. (September 15, 2022) – The Association for Accessible Medicines (AAM) President and CEO Dan Leonard today released the following statement in response to new analysis by healthcare consulting firm, Avalere, showing that generic drugs continue to be misplaced on higher formulary tiers, unfairly driving up costs for patients: “Many patients are spending far […]
