Safe, reliable generic prescription drugs enable Americans to save money at the pharmacy counter. The government saves big, too, on medicine for seniors and low-income people. In 2017, overall savings came to $265 billion.
AAM’s annual generic drug savings and access report presents the independent findings of IQVIA regarding the savings that our companies bring about, including savings by state.
More FDA-approved generic and biosimilar medicines are available now than ever before. Today, America’s patients are benefitting from significant savings at the pharmacy counter and in lower out-of-pocket costs. But those savings are increasingly at risk due to anti-competitive abuses and misguided policies that block access to lower-cost medicines.
Congress can take meaningful action to lower prescription drug costs for patients who rely on affordable medicines to live healthy lives.
#Rx4Savings
Rich of Trumbull, Connecticut, counts on generic medicine to stay healthy in his 70's. “There's no question in my mind that generics work," he says. "The doctor explained it was a generic I would be taking, it was no different than the brand and it would be much cheaper. So I said, 'go for it!'” Rich is just one of millions of patients helped every day by the members of the Association of Accessible Medicines, formerly the Generic Pharmaceutical Association.
Jonnie, 57, of Skiatook, Oklahoma, counts on generic medicine to stay healthy. “I've got the gamut of things that could go wrong as you get older,” she explains. “When you pay for a name brand, it's super expensive. [Do] you know what it's like to have a drug that costs your car payment each month? If it weren't for these generic medications, I don't know where my life would be. I can afford things.” Jonnie is just one of millions of patients helped every day by the members of the Association of Accessible Medicines, formerly the Generic Pharmaceutical Association.
Just up the road from Tulsa, Skiatook – population 7,397 – holds a Pioneer Day festival and rodeo every fall. If you ever visit, remember that it’s pronounced /SKY-took/. Jonnie Parnell, 57, has lived in Skiatook since 1973, when American Airlines sent her father to work here.
Midterm elections changed the political landscape in Washington and across the country. AAM President and CEO Chip Davis invites you to attend Access! 2019 and lend your voice to the conversations and debate in their wake. Learn more at: http://bit.ly/Access2019
Diverse Coalition Says USMCA Violates U.S. Law, Protects Drug Monopolies and Keeps Price of Medicine High, Hurting Patients and American Businesses
WASHINGTON DC (October 11, 2018) – We appreciate the efforts of the FDA, under the leadership of Commissioner Gottlieb, to lower overall drug prices by seeking to increase the number of generic drug applications on an annual basis. It is important however to recognize that in the current U.S. health care system more generic approvals does not automatically translate into more competition.
The U.S. Food and Drug Administration (FDA) plays a critical role in keeping Americans healthy. When it comes to drug approvals, the FDA’s scientists and regulators strive every day to keep pace with the most current advances in science so that patients can benefit from innovative, safe, and effective medicines.
WASHINGTON DC (September 20, 2018) – “The Congressional Budget Office (CBO) has released its score, estimating that the CREATES Act would save taxpayers $3.9 billion by accelerating the use of more affordable generic and biosimilar medicines.