AAM Critical of Medicare Part D Plans for Placing Generics on Higher Tiers
WASHINGTON, D.C. (March 11, 2021) —
Today’s data highlights the continued worsening of generic drug coverage in Medicare Part D. Even as generic drugs continue to decline in price, seniors are forced to pay more because of formulary design. It is vital that policymakers reform Medicare to ensure that seniors receive the full value of low-cost generics and the full value of their Part D benefit.
Funding for this research was provided by the Association for Accessible Medicines. Avalere Health retained full editorial control.
ATTRIBUTE TO: Dan Leonard, AAM President and CEO
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 20 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.