WASHINGTON DC (January 8, 2020) – New analysis from Matrix Global Advisors estimates the delay of just one generic medicine will increase prescription drug costs for patients by $1.7 billion.
Congress should take the significant economic impact of the BLOCKING Act into account and reevaluate the need for this legislation. Without changes, the BLOCKING Act threatens to roll back the progress made by the Trump Administration and the bipartisan efforts in Congress to lower prescription drug costs for patients.
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.