September 24 marks the 35th anniversary of President Reagan signing into law the Hatch-Waxman Amendments, which provided the framework for the modern generic drug industry and created the proper balance between innovation and access in the pharmaceutical ecosystem.
With the intense focus on drug prices among patients, the president, Capitol Hill and the media it is important that we commemorate this day to acknowledge the critical role generic and biosimilar medicines play in reducing drug costs and health care spending.
Happy Birthday Generics!
On September 24, join us in celebrating the 35th anniversary of generic medicines. Grab a custom-made Georgetown Cupcake on Capitol Hill from noon until 6:00 p.m. AAM members and key stakeholders will also receive a box of cupcakes at their offices. AAM encourages everyone to take a celebratory photo with a cupcake (or we welcome your creative ideas) and post in social media using the hashtag #hb2generics. The more people who post photos with this hashtag, the more we can collectively raise awareness of the tremendous savings generic medicines have provided patients over the past 35 years.
Generic Savings
On September 24 AAM is also releasing the full print version of the industry’s annual Access & Savings Report, which this year is subtitled, The Case for Competition. The report provides topline data on how much money patients and taxpayers have saved by taking generic medicines instead of expensive brands. In the last decade, the generic savings have totaled $2 trillion and growing. More than 4 billion generic prescriptions were filled across the United States in 2018. That’s 90 percent of dispensed prescriptions, up from 75 percent in 2009.
#hb2generics
AAM encourages everyone to take a celebratory photo with a cupcake (or we welcome your creative ideas) and post on social media using the hashtag #hb2generics. The more people who post photos with this hashtag, the more we can collectively raise awareness of the tremendous savings generic medicines have provided patients over the past 35 years.
Copy and paste the messaging below and share this image in your social networks. Remember to include the hashtag #hb2generics in your tweets and tag @accessiblemeds in all posts so we can share your message!
- Happy birthday to generic medicines! Thank you for 35 years of savings for America’s patients. #hb2generics #HW35 #Generics @accessiblemeds
