WASHINGTON — The Association for Accessible Medicines president and CEO Dan Leonard issued the following statement regarding the Build Back Better Act:

“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.

 

The Association for Accessible Medicines (AAM) strongly opposes the inclusion of generics in the inflation-based rebates and the House approach to Medicare negotiations because they will result in reduced patient access to more affordable medicines. 

 

The carefully considered frameworks created by the Hatch-Waxman Amendments and the Biologics Price Competition and Innovation Act (BPCIA) are success stories when it comes to reducing the cost of prescription drugs.  The Senate should carefully consider the unintended consequences of the House-passed legislation and take action to ensure that generic and biosimilar competition is promoted rather than upended as the current version of the Build Back Better Act would do.”

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