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Generics And Biosimilars Saved US $445bn In 2023, But Industry Stands At ‘Critical Crossroads’

AAM Released Its Annual Report, Calculating Savings Brought In By Generics And Biosimilars

 
• By Urtė Fultinavičiūtė

Despite bringing more and more savings to the US healthcare system, generics and biosimilars are facing unsustainable practices and an uncertain market.

Person at a sign with multiple directions
• Source: Shutterstock

“We cannot afford to take our generic and biosimilar industries for granted. We must do better!” encouraged David Gaugh, interim president and CEO of the Association for Accessible Medicines, as the organization released its 2024 US Generic and Biosimilar Medicines Savings Report.

This was the report's overarching message, “highlighting the overall value of the generic and biosimilar industry” but also flagging the biggest

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More from Products

Hikma Eyes $5bn Sales Target As It Sets Out Plans To 2030

 
• By Dave Wallace

Unveiling a new name for its generics business, Hikma has at the same time set out medium-term financial goals for its business that include three-year growth objectives for its sales and profits, as well as aiming at a $5bn turnover target by 2030.

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• By Anju Ghangurde

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Gedeon Richter: General Medicines Unit Deserves ‘More Attention And Credit’

 
• By Dean Rudge

Gedeon Richter’s CEO has urged analysts and the firm itself to give more attention to its “unfairly neglected” General Medicines division – which includes both generics and licensed-in innovative products – during the Hungarian firm’s first-quarter earnings call.