DEEP BENCH: Generic medicine same effectiveness, saves $$$
WAUSAU, Wis. (WSAW) - FDA-approved generic medicines are central to American health care, filling 9 out of 10 prescriptions dispensed in the United States.
Dan Leonard, president and CEO of the Association for Accessible Medicines, joined the Deep Bench on NewsChannel 7 at 4 on Thursday to talk about the benefits.
“The generic drugs are safe, effective,” said Leonard. “They undergo the same rigorous review and inspections that the FDA applies to brand medications.”
“Yet the costs are significantly less,” he said, which hammers home one of the key elements.
A report recently released details the economic benefit of generic and biosimilar drugs to American patients. The numbers are staggering.
Last year, “generics saved $338 billion for the U.S. health care system,” Leonard said. “$110 billion in Medicare, $53 billion in Medicaid.”
The benefits will be felt in your co-pay.
“For a brand medicine, the average co-pay is $55. For generic medicines, the average co-pay is $7. That’s where you can really feel it.”
For more information on how to save, you can click here. Leonard also has a podcast you can listen to at that website as well.
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