Generics Drive Savings Yet Patients Continue to Pay More
Each year, the Association for Accessible Medicines releases a savings report that highlights where and how generic and biosimilar drugs save the US health care system hundreds of billions of dollars – over $338 billion in 2021. Since the report’s inception, generics and biosimilars have overwhelmingly been the lion share of prescriptions dispensed but the […]
The Savings Add Up for Patients
Generic and Biosimilar Savings for Asthma, Heart Disease and Other Common Conditions In 2020, safe, effective, FDA-approved generic and biosimilar prescription medicines generated $338 billion in savings for U.S. patients and the health care system as a whole. No matter what condition you treat with generics or biosimilars, you can take these medicines with confidence. […]
Senate Finance Hearing Highlights Ways to Reduce Drug Prices without Harming Patients
The Senate Finance Committee (SFC) convened a hearing March 16 titled, “Prescription Drug Price Inflation: An Urgent Need to Lower Drug Prices in Medicare.” AAM submitted a statement outlining concrete approaches to providing savings for seniors through policies to increase competition in the prescription drug market. As Congress discusses ways to address high brand-name drug prices, […]
State of the Union: Generic and Biosimilar Savings for States and Taxpayers
According to the latest U.S. Generic and Biosimilar Medicines Savings Report, Americans who took generics and biosimilars saved $338 billion in health care costs in 2020 and nearly $2.4 trillion in the last decade. These medicines provide budgetary relief throughout the U.S. health care system, and taxpayers in all 50 states benefit from the savings […]
Cancer Patients Save $16 Billion Per Year with Generics and Biosimilars
Generics and biosimilars saved patients with cancer $16.0 billion in 2020, and savings for the past 10 years total $106.5 billion. An estimated 1.8 million new cases of cancer are diagnosed in the United States each year, and more than 600,000 people die annually from the disease, according to the National Cancer Institute. Patients rely […]
Generics and Biosimilar Medicines Deliver More Savings Every Year
At a moment when policymakers are contemplating measures to reduce drug prices for America’s patients, AAM’s 2021 U.S. Generic and Biosimilar Medicines Savings Report, featuring data from IQVIA, breaks the savings down by state, age, payer, common medical conditions and more. Because tens of millions of Americans entrust their health to generics and biosimilars, they […]
Report: 2021 U.S. Generic and Biosimilar Medicines Savings Report
Featuring data from IQVIA, 2021 U.S. Generic and Biosimilar Medicines Savings Report reveals continued savings growth through lower-cost generic and biosimilar competition. View Report The report breaks savings down by state, age, payer and common medical conditions and provides in-depth data at a moment when policymakers are contemplating measures to reduce drug prices for American […]
AAM Opposes Latest Prescription Drug Reform Framework
Proposed Medicare Negotiations, Inflation-Based Rebates Would Upend Patient Access to Generics and Biosimilars WASHINGTON, DC (November 2, 2021) — In response to press reports on the current framework on prescription drug policies, AAM and its Biosimilars Council issued the following statement on the potential impact to patient access to generic and biosimilar medicines: Patient access […]
Inflation Rebate Proposal Builds on Bad Policy for Generics
Rebate Penalties Threaten Seniors’ Access to Generics The high out-of-pocket costs for prescription drugs are top of mind for many Americans, particularly seniors in Medicare Part D. While there are meaningful bipartisan ideas to reduce patient liability for drug spending under the benefit, one policy under consideration, the application of inflation-based rebate penalties to generics, […]
Study Finds U.S. Generic and Biosimilar Savings Totaled A Record $338 Billion in 2020
WASHINGTON, DC (September 21, 2021) — Today, the Association for Accessible Medicines (AAM), the trade association of generic and biosimilar manufacturers, released the topline findings from its forthcoming 2021 U.S. Generic and Biosimilar Medicines Savings Report highlighting the value of generic and biosimilar drugs. According to the analysis, the U.S. health care system saved $338 billion […]
AAM Statement on HHS 45-Day Plan to Lower the Cost of Prescription Drugs
WASHINGTON, D.C. (September 9, 2021) — Today, AAM released the following statement in response to the Department of Health and Human Services (HHS) and HHS Secretary Xavier Becerra’s recommendations to address the high cost of prescription drugs. HHS’s 45-day plan was developed in response to President Biden’s market competition executive order. “Competition from generic and biosimilar […]
2017 Generic Drug Access and Savings Report
The ninth annual Generic Drug Access and Savings in the U.S. report demonstrates the vital role that generics and biosimilars play in the United States’ healthcare system. For the first time, the third-party researchers who conducted the study analyzed the differences between brand and generic abandonment behaviors and found some surprising results. Download Report Read […]
