(BPT) - It’s a fact: If you take safe, effective, FDA-approved generic prescription medicines, you are saving money. The average copay for a generic medicine is nearly $50 lower than the copay for a brand-name drug. More than 9 out of 10 generic prescriptions are filled for $20 or less.
The Association for Accessible Medicines’ Generic Drug & Biosimilars Access & Savings in the U.S. Report (with data provided by IQVIA) reveals that savings from generic drugs added up to $313 billion in 2019 and close to $2.2 trillion over the past decade. Biosimilars, which meet the same standards of pharmaceutical quality, safety and efficacy that apply to all biological medicines, are a growing area of savings for America’s patients. They saved the health care system $2.2 billion in 2019 and $4.5 billion over the past 10 years.