US generics industry claims $1.7 trillion savings

The Association for Accessible Medicines (AAM) says that generic drugs saved the US healthcare system $253 billion last year, and a total of $1.67 trillion in the last decade.

The surprisingly high claims are made in research carried out at the behest of the US generics and biosimilars trade federation by the QuintilesIMS Institute, using data from a survey of the association’s members, and other sources.

The AAM says the research: “demonstrates the vital role that generics and biosimilars play in the United States’ healthcare system.”