The Alliance for Affordable Medicine Calls on FDA to Help Lower Nation's Debt

The Alliance for Affordable Medicine Calls on FDA to Help Lower Nation's Debt
WASHINGTON, D.C. - The Alliance for Affordable Medicine (AAM) today implored leaders in Washington to reduce the nation's debt, slash health care costs and improve patient care by increasing the utilization of generic drugs.
President Obama's fiscal commission did not reach an agreement Friday on how to reduce the nation's debt, but there is near-unanimous agreement nationwide that any plan must include a reduction in health care spending. AAM argues any plan should include a clear, sensible pathway for the approval of biosimilars, generic versions of groundbreaking biologic medicines that treat a variety of life-threatening and chronic diseases.
"The nation faces soaring debt, and the recent debt commission report makes it clearer than ever that we must seize on cost-cutting measures wherever possible," AAM Chairman Jonah Houts said. "We applaud the Commission for deliberating these urgent issues. Health care spending is at a crisis point, and finding ways to reduce that spending must be included in any deficit-reduction proposals now or in the future. And a clear pathway for the approval of generic biologics, based on sound science, must be a component of any effort to reign in the cost of health care and scale back the debt in the United States."
The cost of biologics can be overwhelming, with some of these medicines reaching half a million dollars per patient per year.
As a part of the comprehensive health care reform law, a framework was put in place that would allow drug companies to produce generic versions of these drugs after an unprecedented 12-year exclusivity period for the brand manufacturer. Before affordable, generic versions of these drugs can be produced, the FDA must first establish a reasonable approval process.
"Generic biologics will provide more patients with access to care, and reduce health care spending in the process," Houts said. "We hope the FDA will seize on the opportunity before them to present a reasonable, efficient pathway for the creation of these affordable, life-saving medicines."
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About the Alliance for Affordable Medicine
AAM brings together large employers, consumer groups, prescription drug manufacturers, pharmacies, pharmacy benefit managers and plan sponsors who are committed to policies that expand access to safe, life-saving, and affordable medicines that result in cost savings for patients and the health care system. The Alliance includes purchasers of pharmacy benefits for more than 250 million Americans.