WASHINGTON, D.C. (November 19, 2021) — The House-passed Build Back Better Act (H.R. 5376) threatens the only segment of our health care system that consistently drives prices down for patients. For more than three decades, generic medicines have provided savings of up to 95% off brand-name drug prices through robust competition. The nascent biosimilar industry is demonstrating similar potential, having cut the growth of oncology pharmaceutical spending in half in just one year.
The Association for Accessible Medicines (AAM) strongly opposes the inclusion of generics in the inflation-based rebates and the House approach to Medicare negotiations because they will result in reduced patient access to more affordable medicines.
The carefully considered frameworks created by the Hatch-Waxman Amendments and the Biologics Price Competition and Innovation Act (BPCIA) are success stories when it comes to reducing the cost of prescription drugs. The Senate should carefully consider the unintended consequences of the House-passed legislation and take action to ensure that generic and biosimilar competition is promoted rather than upended as the current version of the Build Back Better Act would do.
Attribution: Dan Leonard, President and CEO, AAM
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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 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.