2024 US Generic & Biosimilar Medicines Savings Report
The Biosimilars Council, alongside the Association for Accessible Medicines (AAM), released its 2024 US Generic & Biosimilar Medicines Savings Report - highlighting the promise of these lower cost medicines for patients while also underscoring the extreme fragility of this vital industry.
In 2023, savings from the use of biosimilars increased by more than 30% from the previous year, to $12.4 billion, and since their entry to market in 2015, biosimilars have generated $36 billion in savings for America’s patients and the U.S. healthcare system.
“Challenges to biosimilar adoption, combined with the cost of development, are why more than 80 percent of brand biologics that are eligible for competition do not have biosimilars in development, said Craig Burton, executive director of the Biosimilars Council.
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