Drug Prices | Association for Accessible Medicines

Association for Accessible Medicines Warns Build Back Better Act Threatens Patient Access

WASHINGTON, D.C. (November 19, 2021) — The House-passed Build Back Better Act (H.R. 5376) threatens the only segment of our health care system that consistently drives prices down for patients. For more than three decades, generic medicines have provided savings of up to 95% off brand-name drug prices through robust competition. The nascent biosimilar industry is demonstrating similar potential, having cut the growth of oncology pharmaceutical spending in half in just one year.

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Inflation Rebate Proposal Builds on Bad Policy for Generics

Rebate Penalties Threaten Seniors’ Access to Generics

The high out-of-pocket costs for prescription drugs are top of mind for many Americans, particularly seniors in Medicare Part D. While there are meaningful bipartisan ideas to reduce patient liability for drug spending under the benefit, one policy under consideration, the application of inflation-based rebate penalties to generics, is misguided and would limit patients’ access to low-cost medicines.

AAM is doing our best to educate Congress about the impact and need to exempt generics for the sake of patients.

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Medicare Negotiations Serve as a Catalyst to a Perpetual Monopoly

Generic medicines offer proven cost savings for America’s seniors and taxpayers, more than $2 trillion over the past 10 years alone. This is the result of robust head-to-head price competition under which multiple generic drug makers fight for market share based on dramatically lower prices.

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AAM Opposes Latest Prescription Drug Reform Framework

Proposed Medicare Negotiations, Inflation-Based Rebates Would Upend Patient Access to Generics and Biosimilars

WASHINGTON, DC (November 2, 2021) — In response to press reports on the current framework on prescription drug policies, AAM and its Biosimilars Council issued the following statement on the potential impact to patient access to generic and biosimilar medicines:

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Report: 2021 U.S. Generic and Biosimilar Medicines Savings Report

Featuring data from IQVIA, 2021 U.S. Generic and Biosimilar Medicines Savings Report reveals continued savings growth through lower-cost generic and biosimilar competition.

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Study Finds U.S. Generic and Biosimilar Savings Totaled A Record $338 Billion in 2020

WASHINGTON, DC (September 21, 2021) — Today, the Association for Accessible Medicines (AAM), the trade association of generic and biosimilar manufacturers, released the topline findings from its forthcoming 2021 U.S. Generic and Biosimilar Medicines Savings Report highlighting the value of generic and biosimilar drugs.

According to the analysis, the U.S. health care system saved $338 billion in 2020 through the use of FDA-approved generic and biosimilar drugs.

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AAM Statement on HHS 45-Day Plan to Lower the Cost of Prescription Drugs

WASHINGTON, D.C. (September 9, 2021) — Today, AAM released the following statement in response to the Department of Health and Human Services (HHS) and HHS Secretary Xavier Becerra’s recommendations to address the high cost of prescription drugs. HHS’s 45-day plan was developed in response to President Biden’s market competition executive order.

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AAM Statement on President’s Build Back Better Plan

WASHINGTON, D.C. (August 12, 2021) — AAM and our member companies are ready to partner with the Biden administration to ensure all Americans have access to the lifesaving medications they need at a price that they can afford. Ninety percent of the prescriptions filled in the United States are for safe, effective and affordable generic medications, yet they account for only 20% of all drug spending.

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Akaimi Is Leading a Creative Lifestyle

As a single mother, a new grandmother and emerging artist, Akaimi, 44, of San Antonio, TX, has an active and creative lifestyle. Her treatment for large granular lymphocytic leukemia was successful, and the cancer is now in remission, but she continues to have side effects from the chemo treatments. Her doctor recommended a biosimilar.

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AAM Voices of Access

Your Voices, Your Health

AAM’s “Voices of Access” report features patients across the country speaking about the importance of generic and biosimilar medicines in their lives. This annual publication tells the impact that accessible medicines have on everyday Americans – on their health journeys, their economic well-being and their daily lives.

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