Generic medicine prices have been falling for three years but some patients are experiencing higher out-of-pocket costs. That doesn’t add up. When patients are burdened with higher Rx costs than ever, it makes no sense that there are forces keeping safe, effective and affordable generic and biosimilar medicines from getting approved, and being accessible to patients.
Fewer than half of the new generics (the first to compete with brand-name drugs) approved by FDA since 2016 are commercially available to patients. Of those that are commercially available, only half are included on formularies of Medicare Part D plans.That doesn’t add up.
Since 2015, seniors have paid nearly $22 billion in needless out-of-pocket costs for their prescription drugs in Medicare Part D because health plans are placing them on higher formulary tiers. That doesn’t add up. If plans automatically put generic drugs on generic tiers with lower out-of-pocket costs, seniors will see immediate benefits.
Biologic medicines are among the costliest and fastest growing category of drug spending. Biosimilars hold great promise to be more affordable alternatives to expensive biologics, but only 11 of 24* biosimilars that have been approved by FDA are available to U.S. patients. That doesn’t add up.
Send a message to your lawmakers to tell them, “This Doesn’t Add Up.” Real stories from real patients make a real difference.
Report: New Generics Are Less Available in Medicare Than Commercial Plans
The Medicare prescription drug program was designed to ensure that seniors have affordable access to lifesaving medicines. Unfortunately, this new AAM report finds that seniors in Medicare have less access to lower-cost generic treatments than patients in commercial plans.
Report: Sidelined: How Seniors Miss Out On Savings Available Through Generic Substitution
Generic medicines are an integral component of America’s pharmaceutical care system, driving substantial savings to patients and public programs.
Report: Seniors Denied Access to New, Lower-Priced Generic Drugs Due to Medicare Coverage Delays
Since 2006, the Medicare Part D program has successfully provided seniors access to lifesaving medicines while stewarding taxpayer resources. Today, the program serves more than 45 million seniors.
Report Part 2: Failure to Launch: Barriers to Biosimilar Market Adoption
America’s health care system is eager for biosimilars, especially in light of mounting evidence that they deliver increased patient access and savings by providing competition for costly brand-name biologics.
2019 Generic Drug and Biosimilars Access and Savings in the U.S.
The 11th annual edition of AAM’s Savings and Access Report quantifies how much money American patients and our health care system are saving because of generic and biosimilar alternatives to brand-name prescription and biologic medications.
Report: Medicare and Commercial Plans Fail to Get New Generics to Patients.
Although public polling continues to find high drug costs are a major concern for voters, health plans in the Medicare program and the commercial market are delaying patient access to new lower-priced generic competitors.
Generic costs have been going down but many patients are paying more for these medicines. That doesn’t add up.
Let’s be transparent. The makers of generic medicines want you to know how much our drugs cost so we can have an informed discussion of drug prices.
*Current as of mid-November 2019. Updates filed at: https://biosimilarsrr.com/us-biosimilar-filings/
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