How much potentially could be saved by the U.S. healthcare system with the approval of biogenerics?
The Congressional Budget Office estimates that biogenerics would save the federal government alone $12 billion over the first 10 years1. In February 2008, a study by economist Robert J. Shapiro, former Under-secretary of Commerce in the Clinton administration, found that “generic versions of the top-12 categories of biologic treatments with patent protections that have expired or are due to expire in the near future could save Americans $67 billion to $108 billion over 10 years and $236 billion to $378 billion over 20 years.”2 Whatever the actual figure, we know that biogenerics will save billions of dollars for American consumers and the American government. And both could use the help as never before. 1 FDA Week, “CBO Nearly Doubles Estimated Savings From Generic Biologics;” Dec. 26, 2008. 2 Shapiro, Robert J., The potential American market for generic biological treatments and the associated cost savings. February, 2008.
