NEW YORK (PRWEB) October 15, 2020
Generic drugs are lifesavers for patients. They cost less than the name-brand drugs with the same formulation, and insurance plans tend to steer patients to them for that reason.
A video accompanying this announcement is available at: https://youtu.be/RfLnACutMV0
The need for generic drugs has never been more important as we live through a pandemic and all the health ramifications affecting those who have contracted Covid-19.
As individuals, the health care industry and governments look to contain the costs of Covid, one place they are all turning to are generic drugs.
The Association for Accessible Medicines (AAM), the trade association of generic and biosimilar manufacturers, recently released a report detailing the financial benefit of generic and biosimilar drugs to America’s patients.
Some of the findings of the report and topics Dan Leonard discussed during the media tour included:
- The U.S. health care system saved $313 billion in 2019 by prescribing generic drugs
- $96 billion were in Medicare savings
- $48.5 billion were in savings to Medicaid
- The financial benefit of generic and biosimilar drugs to America’s patients
- How generic drugs are being used to treat Covid-positive patients
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