WASHINGTON, DC (November 30, 2018) – AAM is extremely concerned that the USMCA, if left in its current form, will decrease prescription drug competition, inevitably leading to increased drug prices in the United States. This will harm American patients, job creators, workers and taxpayers. Furthermore, several provisions within the agreement are inconsistent with U.S. law and, if left unchanged, could lead to inappropriate changes in U.S.
WASHINGTON DC (November 14, 2018) – Republican and Democratic voters agree. Americans do not want the new U.S.-Mexico-Canada trade agreement (USMCA) to raise drug prices or decrease competition from more affordable generic or biosimilar medicines.
Addressing the high cost of prescription drugs continues to be a top health care priority for the public. On October 1, the U.S. Trade Representative (USTR) announced a proposed agreement with Canada and Mexico to revise the North American Free Trade Agreement (NAFTA).
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.