WASHINGTON, DC (October 8, 2019)--
"As the Federal Trade Commission has found, recent patent litigation settlements have overwhelmingly accelerated the launch of more affordable generic and biosimilar medicines prior to the branded drug's patent expiration date.
Increased competition from generics and biosimilars break up drug monopolies and drive down the cost of medicine. California patients and state programs saved $26 billion in 2018 alone by using generic prescription drugs.
AB 824 will harm patients in California by denying them earlier access to affordable generic and biosimilar prescriptions drugs. Moreover, by attempting to regulate federal patents and transactions that occur wholly in other states, the law violates the U.S. Constitution."
ATTRIBUTE TO: Chip Davis, President and CEO
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.