WASHINGTON, DC (May 17, 2019) — Improving patient access to affordable medicines is a core value of companies that develop and manufacture generic and biosimilar medicines.
AAM believes in compliance with all drug quality, competition and antitrust laws. We take all instances of illegal behavior seriously. Anyone convicted of violating these laws should be punished appropriately.
AAM and its member companies have developed a Code of Business Ethics, and its first two commitments relate to the safety of the medicines produced for patients and the importance of vigorous competition which drives down prices.
AAM members develop and manufacture medicines that conform to high standards of quality, safety and efficacy as determined by regulatory authorities where they operate. It is essential that patients trust the medical advice of their physicians as well as the integrity of the pharmaceutical supply chain which is overseen by professionals of the U.S. Food and Drug Administration (FDA), so patients can take their medicines with confidence.
Vigorous, ethical competition is the foundation of the generic drug and biosimilar industry. Competition allows our companies to drive enormous savings and pass them on to patients, taxpayers and health care payors. AAM and its members believe in the ethical value of access to affordable medicines and compete vigorously to provide medicines to patients. Our companies believe in fair competition in compliance with all applicable laws.
Background
AAM’s member companies produce and distribute the medicines that make up approximately 90% of all prescriptions filled in the United States – but at just 22% of total prescription drug spending. Generic drug manufacturers serve as a key pillar in our national health care system. Our work includes promoting marketplace competition and supporting strategic enhancements to the Food and Drug Administration’s (FDA) generic drug and biosimilar approval process. We do this for one purpose: to put affordable medicines within the reach of patients who need them. Every dollar saved at the pharmacy counter is a dollar that patients can spend on life’s essentials and other pursuits — or put away for future use. We help patients live better lives, and we do so in a way that saves precious resources for patients, taxpayers and our economy.
MEDIA CONTACT:
Rachel Schwartz
202.249.7147
About AAM
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 only 22 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.