The U.S. Food and Drug Administration (FDA) plays a critical role in keeping Americans healthy. When it comes to drug approvals, the FDA’s scientists and regulators strive every day to keep pace with the most current advances in science so that patients can benefit from innovative, safe, and effective medicines.
President Trump has declared lowering our nation’s drug costs a high priority. But his renegotiated North American Free Trade Agreement, which has now been rebranded by Trump as the US-Mexico-Canada Agreement (USMCA), will actually prevent him from reducing the exorbitant costs of prescription drugs for America’s patients.
WASHINGTON DC (October 1, 2018) – AAM is extremely concerned that the proposed US-Mexico-Canada trade agreement will provide a windfall for brand-name drug manufacturers and raise prescription drug prices for patients in the United States.
The U.S. is actively negotiating with Mexico and Canada to revise the North American Free Trade Agreement (NAFTA). One of the provisions under discussion would increase brand-name drug exclusivity (i.e., monopolies) as part of a new trilateral agreement. Imposing additional brand-name drug exclusivity only keeps already high brand drug prices out of reach for patients for longer.
A recent poll shows that Americans oppose longer monopolies for big brand name pharmaceutical companies in NAFTA 2.0. View the results in the infographic below.
This fact sheet provides key takeaways and resources for lawmakers and was shared at the Capitol Hill briefing on September 14, 2018.
WASHINGTON DC (May 14, 2018) – Imposition of tariffs on generic drugs, biosimilars or their ingredients would have a perverse effect on health care spending in the U.S. Generic medicines generated $253 billion in savings for patients and taxpayers in 2016, and in the last decade the U.S. health care system has saved $1.67 trillion due to the availability of low-cost generics. Savings for the two largest government health care programs, Medicare and Medicaid, totaled $77 billion and $37.9 billion, respectively, in 2016.
AAM believes that all finished pharmaceuticals, pharmaceutical ingredients and active pharmaceutical ingredients (API) should be removed from the annex of products to be subject to additional duties published in USTR’s 301 Notice. Imposing an additional 25 percent tariff on such products will increase the cost of prescription drugs for patients in the United States, taxing their health and well-being, which will cause disproportionate economic harm for consumers and is unlikely to result in the desired changes to China's practices.
WASHINGTON, DC (April 4) –
“The Association for Accessible Medicines (AAM) and our members who manufacture generic and biosimilar medicines are aligned with the president’s goal of lowering prescription drug prices for patients in the U.S.
WASHINGTON, DC (September 19, 2017) – The Association for Accessible Medicines, the Canadian Generic Pharmaceutical Association and the Mexican Association of Generic Medicines are urging their three governments not to raise drug prices for patients by extending monopolies for brand name medicines and biologics under a renegotiated North American Trade Agreement (NAFTA).