Managed Healthcare Executive September 21, 2021
The Association for Accessible Medicines said biosimilar drugs saved $7.9 billion in 2020, more than tripling the $2.5 billion saved in 2019.
The U.S. healthcare system saved $338 billion in 2020 because of the prescribing of generic drugs and biosimilars that are less expensive than their brand-name counterparts, according to the Association for Accessible Medicines (AAM), a trade association for generic and biosimilar makers.
In a preview of its full-fledged report generic and biosimilar savings, the AAM said that biosimilar drugs saved $7.9 billion in 2020, more than tripling the $2.5 billion saved in 2019.
The biosimilar drug market continued to grow in 2020, with three new FDA approvals and six new product launches.
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