WASHINGTON, D.C. (November 15, 2023) – The Association for Accessible Medicines (AAM) shared the following statement today in response to the IQVIA Institute’s release of a new analysis,
The issue of drug shortage is front and center for manufacturers, providers, and, in particular, patients, said David Gaugh, AAM’s Interim President & CEO.
The IQVIA Institute’s new report highlights several important factors leading to shortages, including the critical role that unsustainable reimbursement plays in causing and contributing to these shortages.
This report follows the release of AAM’s own issue brief from earlier this year, which outlined the main causes of generic drug shortages—market and pricing factors that undermine the sustainability of low-cost generic manufacturing, government policies that compound challenging market dynamics, and regulatory and manufacturing challenges—and recommended several actions for stakeholders to remedy current shortages and prevent future ones. AAM remains committed to working with stakeholders including policymakers, healthcare providers, and manufacturers to promote policies that will reduce drug shortages by improving the long-term sustainability of the generic drug market for patient access and savings.
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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 less than 18 percent of total drug spending.
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.