“While we await further details about the President’s budget, proposals to expand the Inflation Reduction Act’s Medicare negotiations and inflation-based penalties only create more uncertainty for the development of lower-cost generic and biosimilar medicines. We strongly encourage the Biden Administration to instead advance policies that address the barriers to more market-based competition – specifically the use of rebates and patent thickets – to ensure patients receive the full benefit and savings from new generics and biosimilars.”
Director of Communications, 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 91 percent of prescriptions dispensed in the U.S. but only 18 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.