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Medicaid

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.

As Health Care Spending in US Projected to Increase, Generics and Biosimilars Expected to Moderate Growth

Recently, the Centers for Medicare & Medicaid Services (CMS) released the 2021-2030 National Health Expenditure (NHE) report, prepared by their Office of the Actuary. The report serves as the authoritative estimate of total U.S. health spending and provides important clues as to what is (and is not) driving health care costs.1

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 generated for Medicare and Medicaid enrollees. On average, states saved $6.6 billion from the use of generics and biosimilars in 2020.

Generic Prices Are Falling, But Seniors Are Paying More for Generic Drugs. What’s Happening Here?

Something is wrong when America’s patients pay the same or more for an FDA-approved generic version of a high-priced brand drug. It’s even worse when those costs go up each year. Generics provide competition for expensive brand drugs and savings for patients. In 2020 alone, generics and biosimilars have saved the Medicare program $109.6 billion.1

Roadmaps for Ensuring Patient Access to Generic and Biosimilar Medicines: Securing Sustainable Markets

This paper examines the challenges to market sustainability for generic and biosimilar medicines that have cleared the regulatory and patent hurdles to obtain FDA approval and launch into the U.S. market. It is the first in a series of AAM papers that will highlight challenges to the overall sustainability of the generics and biosimilars industry.

AAM Outlines Policy Solutions for Sustained Patient Access to Generic and Biosimilar Medicines

Association for Accessible Medicines Unveils Policy Agenda for
Biden Administration and 117th Congress
Outlines Policy Solutions to Support Long-Term Sustainability of Generic and Biosimilar Medicines

New Campaign Highlights Lifesaving Role Generic Drugs Have Played in Treatment of COVID-19
Report Series Examines Threats to Patient Access and Affordability

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