WASHINGTON DC (September 20, 2018) – “The Congressional Budget Office (CBO) has released its score, estimating that the CREATES Act would save taxpayers $3.9 billion by accelerating the use of more affordable generic and biosimilar medicines. By establishing a limited, legal pathway for generic and biosimilar developers to efficiently resolve disputes with brand drug companies that utilize a well-documented and well-understood tactic to delay competition, the CREATES Act will also reduce the need for lawsuits between competitors. The CBO score validates what AAM and our member companies have been saying for years: that CREATES will reduce drug prices and increase access to medicines for patients who need it most. After years of discussion and deliberation, it’s time to pass CREATES.”
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 23 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.