Saving of U.S. costs through generic pharmaceuticals by condition 2023
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This statistic displays the cost savings in the United States associated with using generic drugs and biosimilars in 2023, by major medical condition. In that year, 118 billion U.S. dollars were saved due to generics used in the treatment of heart diseases. Over the last decade, an estimated three trillion U.S. dollars were saved through the use of generic pharmaceuticals in the United States.
Cost savings through generics
In 2023, generics targeting heart diseases and mental health (anxiety and depression) have created the largest amount of cost savings in the U.S., totaling 118 and 76 billion U.S. dollars, respectively. Sandoz and Teva have garnered the largest revenues of the generics market worldwide in 2022, accumulating some 8.6 and 6.8 billion dollars, respectively. Teva produces both the branded and generic form of Adderall, a medication used to target attention deficit hyperactivity disorder and narcolepsy.
Same, but cheaper
Generic products are increasingly becoming an economically and medically sound alternative to branded products. These products are usually sold for a much lower price than branded drugs; this is due to expiry of patents which raises competition in the industry. Generic products contain the same active ingredients found in branded pharmaceutical products. Among several blockbuster drugs going generic in the U.S. between 2016 and 2018 are Humira, Remicade, and Enbrel.
