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Op-Ed: The New NAFTA Could Thwart President's Promise to Lower Prescription Drug Costs

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.

Preserve Patient Access in NAFTA 2.0

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.

AAM’s Comments on USTR’s Proposed China Tariffs

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’s Comments on USTR’s Proposed China Tariffs

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.

AAM and Sister Associations in Canada and Mexico: Governments Should Not Raise Drug Prices in Renegotiated NAFTA

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).

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