Health Care Groups Also Back New Bill to Ensure Access at Lower Costs
WASHINGTON, DC (April 7, 2017) – The Association for Accessible Medicines (AAM) and its Biosimilars Council wholeheartedly support the bipartisan legislation introduced in the House of Representatives today to increase competition for prescription drugs and lower the cost of treatments for patients in the U.S. The bill targets anticompetitive behavior used by certain brand drug manufacturers to stifle generic and biosimilar entry. The Congressional Budget Office (CBO) has estimated that similar legislation would save the government more than $2 billion in direct savings over 10 years.
“This is a first step towards tearing down the walls blocking generic drugs from reaching patients and taking real action to lower costs,” said Chester “Chip” Davis, Jr., President and CEO of AAM. “This common sense, bipartisan solution will increase competition in the prescription drug market and bring down costs for patients.”
“We need smart policies, like the FAST Generics Act, that build on the success achieved through generic competition to unleash the full potential of the emerging biosimilars market,” said Bruce Leicher, Chair of the Biosimilars Council, a Division of AAM.
AAM and the Council also joined a diverse coalition of stakeholders in support of the FAST Generics Act of 2017 in a letter to the bill’s sponsors, released today. The organizations said the bill “would provide a clear solution to abusive, anticompetitive business practices that increase costs to the American health care system by impeding patient access to generic and biosimilar medicines.” The full letter can be viewed here.
The letter was signed by leading health care organizations and consumer groups, including:
Academy of Managed Care Pharmacy
America’s Health Insurance Plans (AHIP)
American College of Physicians
American Society of Health System Pharmacists
Association for Accessible Medicines and The Biosimilars Council
BlueCross BlueShield Association
Campaign for Sustainable Rx Pricing
Coalition to Reduce Spending
Frontiers of Freedom
Healthcare Supply Chain Association
Pharmaceutical Care Management Association (PCMA)
Premier healthcare alliance
Sector HealthCare Roundtable
Media Contact: Justin Bartolomeo, P: 202-400-0480
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 89 percent of prescriptions dispensed in the U.S. but only 27 percent of total drug spending. Additional information is available at www.accessiblemeds.org.
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 at www.biosimilarscouncil.org.