AAM: Most generic scripts filled at $20 or less
Ninety-three percent of generic prescriptions are filled at $20 or less, and the average co-pay for a generic drug is just $6.06, according to the Association for Accessible Medicines’ recently released Generic Access and Savings Report in the United States 2018.
Using data collected in 2017, the report also shows that generic medicines account for 9-in-10 prescriptions filled in the United States.
The organization said that these findings underscore the significance of the main “competition” pillar of President Trump’s Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs. The administration’s plan recognizes that a healthy, competitive generic drug marketplace is a hedge against high brand-name drug prices, but as the access and savings report warns, that market and subsequent patient savings are at risk, AAM said.
“Six dollars for a generic prescription delivers on the Trump administration’s goal of lower prices and out-of-pocket costs,” AAM president and CEO Chester “Chip” Davis, Jr. said. “That is why we fully support efforts by the White House, HHS, FDA and Congress to end the patent shenanigans and other anticompetitive abuses that brand-drug companies use to keep affordable, life-saving generic and biosimilar medicines off the market and out of the hands of patients.”
The report, which is the 10th annual release produced for AAM by IQVIA, also found the following:
To read the full report, click here.
Using data collected in 2017, the report also shows that generic medicines account for 9-in-10 prescriptions filled in the United States.
The organization said that these findings underscore the significance of the main “competition” pillar of President Trump’s Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs. The administration’s plan recognizes that a healthy, competitive generic drug marketplace is a hedge against high brand-name drug prices, but as the access and savings report warns, that market and subsequent patient savings are at risk, AAM said.
“Six dollars for a generic prescription delivers on the Trump administration’s goal of lower prices and out-of-pocket costs,” AAM president and CEO Chester “Chip” Davis, Jr. said. “That is why we fully support efforts by the White House, HHS, FDA and Congress to end the patent shenanigans and other anticompetitive abuses that brand-drug companies use to keep affordable, life-saving generic and biosimilar medicines off the market and out of the hands of patients.”
The report, which is the 10th annual release produced for AAM by IQVIA, also found the following:
- Patients fail to fill their prescriptions for brand-name drugs at a rate 2-to-3 times higher than for generics;
- Generic medicines generated a total of $265 billion in savings;
- Savings for Medicare amounted to $82.7 billion, or $1,952 per enrollee; and
- Savings for Medicaid was $40.6 billion, or $568 for every enrollee.
To read the full report, click here.