This article first appeared in Managed Healthcare Executive on February 1, 2021.
AAM All Access Podcast - Dan Leonard speaks to AAM's Lisa Parks and Monét Stanford
WASHINGTON, DC (June 2, 2020) — The COVID-19 crisis exposed many shortcomings in our health care system’s ability to respond to a pandemic. At the same time, many parts of that same system — including the supply chain for the vast majority of generic medicines — demonstrated extraordinary resiliency in the face of unprecedented stresses.
On Wednesday, David Gaugh, R.Ph., AAM’s Senior Vice President, Sciences & Regulatory Affairs, provided
Improving patient access to affordable high-quality medicines is a core value of companies that develop and manufacture generic and biosimilar medicines. Our companies produce and distribute the medicines that make up approximately 90% of all prescriptions filled in the United States – but at just 22% of total prescription drug spending. We serve as a key pillar in our national healthcare system.
On January 30, Fresenius Kabi USA Vice President of Regulatory Affairs Molly Ventrelli testified before Congress on compounding.
The House Energy & Commerce Committee held a hearing on “Examining Implementation of the Compounding Quality Act.” Fresenius Kabi is a global health care company specializing in lifesaving medicines and technologies for infusion, transfusion and clinical nutrition.
The company operates 18 compounding centers around the world, and is in the process of launching its first U.S.-based, 503B compounding center in suburban Boston.
While the pills you receive at the pharmacy counter may look slightly different from the brand, generic medicines work the same as costlier brand-name products. They have the same active ingredients, and the manufacturing and packaging must pass the same quality standards.
The U.S. Food and Drug Administration (FDA) requires generic drugs to have the same performance and quality as brand name drugs. The FDA says: “When a generic drug product is approved, it has met rigorous standards established by the FDA with respect to identity, strength, quality, purity, and potency.”