Statement on IQVIA Report: Biosimilars in the U.S. 2020-2024

Council Statement on IQVIA Institute Report: Biosimilars in the United States 2020 – 2024

“Today’s IQVIA report confirms that biosimilars are gaining ground to the benefit of patients and the U.S. health care system, but also raises a red flag about the long-term sustainability of the biosimilar market. With data showing that biosimilars are projected to generate more than $100 billion in savings over the next 5 years, these are high stakes for patients, payers and especially policymakers, who must ensure that Medicare policies encourage the use of lower-cost biosimilars.”

ATTRIBUTE TO: Christine Simmon, Executive Director

MEDIA CONTACT:

Rachel Schwartz

202.249.7147

About the Biosimilars Council

The Biosimilars Council, a division of the Association for Accessible Medicines (AAM), works to ensure a positive environment for patient access to biosimilar medicines. The Biosimilars Council is a leading source for information about the safety and efficacy of more affordable alternatives to costly brand biologic medicines. Areas of focus include public and health expert education, strategic partnerships, government affairs, legal affairs and regulatory policy. More information is available on our about page.

About AAM

AAM is driven by the belief that access to safe, quality, effective medicine has a tremendous impact on a person’s life and the world around them. Generic and biosimilar medicines improve people’s lives, improving society and the economy in turn. AAM represents the manufacturers and distributors of finished generic pharmaceuticals and biosimilars, manufacturers and distributors of bulk pharmaceutical chemicals, and suppliers of other goods and services to the generic industry. Generic pharmaceuticals are 90 percent of prescriptions dispensed in the U.S. but only 20 percent of total drug spending.