WASHINGTON, DC (April 3, 2019) – The Association for Accessible Medicines welcomes today’s unanimous 51-0 passage of the CREATES Act by the House Energy and Commerce Committee.
WASHINGTON, DC (March 27, 2019) – The generic and biosimilar industry greatly appreciates the efforts of the Energy and Commerce Health Subcommittee to pass the CREATES Act and advance this bipartisan market-based solution to end abuse of FDA’s safety programs. Today’s markup, unfortunately, represents one step forward and two steps back for patients who want competition to lower drug prices.
WASHINGTON, DC (February 8, 2019) — The high price of prescription drugs is the number one domestic policy issue in this country, and the CREATES Act is a bipartisan solution that will address some of the anticompetitive tactics that drive prices ever-higher. CREATES has been studied, debated and voted out of committee. Now it is time for the full Congress to take up and pass this critical legislation.
When a brand-name prescription drug’s market exclusivity (its monopoly) and patents expire, generic and biosimilar medicines become available, the savings begin and patients win. That’s how the system is supposed to work. However, brand-name pharmaceutical companies have increasingly abused FDA’s safety programs (Risk Evaluation and Mitigation Strategies, or REMS) and other manufacturer-imposed restricted distribution of samples to delay competition and impede patient access to more affordable prescription drugs.
Patients are paying too much! A recent study shows that $13 billion a year in prescription drug savings are lost to brand prescription abuses.
When a brand-name prescription drug’s market exclusivity (its monopoly) and patents expire, generic and biosimilar medicines become available, the savings begin and patients win. That’s how the system is supposed to work.
Study Finds Costs of Brand Abuses Have Exploded in 4 Years, Harming Patient Access to Affordable Generic and Biosimilar Medicines
AAM's VP Policy Craig Burton shares the release of the 2018 Generic Drug Access & Savings in the U.S. report, which focused this year on savings from patient utilization of generic drugs. The report highlights 3 important findings:
Generic and Biosimilars Competition Drives Lower Prices and Reduced Out-of-Pocket Costs for Patients
WASHINGTON DC (June 14, 2018) – Today, the Senate Judiciary Committee, on a strong bipartisan basis, has taken a critical first step toward making real progress on the problem that U.S. patients care the most about: high drug prices. The full Senate and the House should follow the Judiciary Committee’s lead and pass a strong CREATES Act so President Trump can sign into law this important legislation that will help fulfill the goals of his American Patients First plan.
Since Apotex’s inception over 40 years ago, our company has focused on a sole purpose: improving access to affordable, innovative and high-quality medications. Over the years, we have seen the generics industry weather a number of challenges caused by legislative and regulatory changes in the markets in which we operate. The industry has also benefited from a number of positive changes that improve the ability of companies like Apotex to bring affordable generics and biosimilars to market – saving patients billions of dollars.