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Drug Prices

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 Generic Drug and Biosimilars Savings in the U.S. report highlighting the value of generic and biosimilar drugs.

According to the analysis, the U.S. health care system saved $338 billion in 2020 through the use of FDA-approved generic and biosimilar drugs.

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.

AAM Statement on President’s Build Back Better Plan

WASHINGTON, D.C. (August 12, 2021) — AAM and our member companies are ready to partner with the Biden administration to ensure all Americans have access to the lifesaving medications they need at a price that they can afford. Ninety percent of the prescriptions filled in the United States are for safe, effective and affordable generic medications, yet they account for only 20% of all drug spending.

AAM Voices of Access

Your Voices, Your Health

AAM’s “Voices of Access” report features patients across the country speaking about the importance of generic and biosimilar medicines in their lives. This annual publication tells the impact that accessible medicines have on everyday Americans – on their health journeys, their economic well-being and their daily lives.

Rich Has the Wind at His Back

Now that Rich, 72, of Laurel MD, is semi-retired, he loves to go boating on the Chesapeake Bay. His 15-year-old boat is equipped with a diving board to entice the grandchildren. Rich takes a generic drug to control his blood pressure. He and his wife are enrolled in Medicare but not a supplemental plan, so lower-priced generics are his best option.

Doug Is on the Links

Doug, 74, of Pembroke Pines, FL, was taking a brand-name drug to control his cholesterol, but after his insurance company discontinued coverage, his doctor recommended the generic.

It’s done everything that the brand-name drug did, Doug says, plus it’s much cheaper. Those generic savings have really come in handy, because I’ve been able to help my grandchildren with their college savings.

 

McKenzie Is Dancing in the Air

McKenzie, 24, of Salt Lake City, UT, lives at home with her parents. She works full time as a receptionist at a chocolate factory, and in her spare time she performs aerial acrobatics on hanging silk fabric. She likens the activity to dancing in the air. Generic prescription drugs help McKenzie cope with anxiety and seasonal affective disorder, and they help her save money, too.

Eric Is Spending Time With His Grandchildren

Eric, 60, of Cincinnati, OH, gets his blood pressure, cholesterol and diabetes prescriptions filled at the St. Vincent de Paul Charitable Pharmacy. Pharmacist Lydia Bailey has seen Eric every month for the past six months, checking that his medicine is working properly and that he’s eating right and hitting the gym. His A1C level, which tests diabetes control, has settled from an alarming 11.3% down to the goal value of 7%.

Raeanne Went Back to School

When people have the foundation of health, they’re able to do more, be more and reach their potential. Just ask Raeanne, a 33-year-old single mother of three in New York City.

I take generic medications for asthma, she explains. I don’t have a lot of time or money to spare, so I tell the doctors to just give me the generic because they work the same, and it’s way less than half the cost of the brand name. I’ve been able to use the savings to go back to school.

 

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