WASHINGTON, DC (February 13, 2019) — With everyone from patients to the President demanding action on drug pricing, AAM welcomes the re-introduction of the Preserving Access to Cost Effective Drugs (PACED) Act.
As pharmaceutical companies continue to find novel ways to game the system to keep their monopolies intact long past their expiration date, the PACED Act addresses this particularly onerous practice that keeps drug costs artificially high. The scheme is so egregious that everyone said, ‘there ought to be a law.’ Thank you to Senators Tom Cotton (R-Arkansas), Pat Toomey (R-Pennsylvania) and Joni Ernst (R-Iowa) for taking the first step toward that objective. Congress should give the PACED Act its full consideration and enact this law.”
Attribution: Association for Accessible Medicines
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.