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US Saves $313bn From Generics And $2.2bn From Biosimilars

AAM’s Annual Report Focuses On Patient & Stakeholder Benefits

 
• By Akriti Seth

The AAM’s 2019 report titled ‘Securing Our Access & Savings’ throws light on the monumental savings and benefits of generics and biosimilars for US patients and other stakeholders. The report urges policymakers to act to address obstacles to the off-patent industry and brings industry’s COVID-19 response in perspective again.

US health insurance
The AAM has released its annual savings report • Source: Shutterstock

US savings from generic drugs came to $313bn in 2019, according to the latest report from the Association for Accessible Medicines. Detailing the economic benefits to US patients, the AAM’s newly-appointed CEO, Dan Leonard, commended the savings and added that, despite obstacles, US savings from biosimilars were also growing steadily, totalling $2.2bn in 2019.

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