Savings generated by generics in USA hit a record $313 billion in 2019

The US Association for Accessible Medicines (AAM), the trade association for generic and biosimilar manufacturers, released the 2020 Access & Savings Report detailing the economic benefit of generic and biosimilar drugs to America’s patients.

According to the report, the US health care system saved $313 billion in 2019 from generics and biosimilar drugs, including $96 billion in Medicare savings and $48.5 billion in savings to Medicaid. At a time when access to reliable, affordable and high-quality prescription medication is more important than ever, generics fill 90% of prescriptions in the United States for only 20% of the cost. The findings reinforce the outsized importance of the generic industry in delivering lifesaving and health-managing medicines to patients.

Additional highlights from the 2020 Access & Savings report include: