WASHINGTON, DC (November 7, 2024) — The Association for Accessible Medicines and the Biosimilars Council today released the following statement from President and CEO John Murphy III on the 2024 Presidential and Congressional elections.
We congratulate President-Elect Donald Trump and the newly elected and re-elected Members of Congress. AAM and the Biosimilars Council as always looks forward to working with Congress, regulators, and the White House on real solutions to help patients increase access to generic and biosimilar medicines and solidify a sustainable and robust generic marketplace that is currently under threat. There is bipartisan consensus on the need to support a robust and resilient generic and biosimilar market in the US, which supplies 90% of all prescribed drugs but only represents 13% of the spending and is the only element of the healthcare ecosystem where prices decrease. However, much needs to be done to sustain this important market and to ensure that patients themselves actually benefit from the price competition generic products bring to the market. AAM and our membership will continue to work with all stakeholders to pursue solutions that expand the market and benefit patients this year and in the coming years.
For media inquiries, contact the Communications department at media@accessiblemeds.org.
About AAM
The Association for Accessible Medicines, your generics and biosimilars industry, 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 of finished generic pharmaceuticals and biosimilars, manufacturers 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 13.1 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.