WASHINGTON D.C. (January 24, 2022) –
Avalere's recent findings add to the growing body of evidence that Medicare Part D Plans are preventing patients from realizing the full value of low-cost generic drugs. For the third year in a row, fewer than half of all generic drugs are on generic formulary tiers, even as generic prices continue to decline. This forces America’s patients to unnecessarily pay more for their generic drugs. AAM encourages the Administration and Congress to ensure that Medicare beneficiaries receive the full value of low-cost generics.
Attribution: Dan Leonard, President and CEO, 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 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.