According to the Association for Accessible Medicine (AAM) report (here), generic drugs represent 90% of all prescriptions filled (accounting for approximately 3.9 billion prescriptions) while accounting for only 12% ($98 billion) of the total drug spend in 2024. Conversely, brand-name drugs accounted for only 10% of prescriptions (approximately 435 million prescriptions) yet accounted for 88% ($700 billion) of the […]
Ever since the first patent settlements after the Drug Price Competition and Patent Terms Restoration Act was signed, many of us in the generic world (and now in the biosimilar world) have suggested that most patent settlements are pro-consumer as they can bring generic products (and now biosimilars as well) to market years before the […]
Once again, AAM reports the data from the IQVIA 2023 U.S. Generic and Biosimilar Medicines Savings Report (here) which demonstrates the savings power from generic drugs and biosimilars. The Report indicates that, in 2022, the savings realized from the use of generic and biosimilars hit a record $408 billion, of which $9.4 billion was from […]
It’s no surprise that the use of generic drugs saves consumers and health plans big money. Now, add the savings being achieved from biosimilars (expected to increase significantly over the next year or two) and the amount is almost staggering! The just-released report, which can be found here, provides details that support the findings that […]
