GPhA Calls for Policy Changes to Enhance Pharmaceutical Competition
Contact: Steve Arnoff 202.249.7113
WASHINGTON, DC (Aug. 26, 2016) — The Generic Pharmaceutical Association (GPhA) supports policies that foster robust pharmaceutical competition in order to make sure that patients and the entire health system can realize the full value of safe, effective and more affordable generic and biosimilar medicines.
Chip Davis, President and CEO, Generic Pharmaceutical Association (GPhA):
“In the current discussion of drug prices, not surprisingly there are differing perspectives emanating from a multitude of heathcarestakeholders. That said, when the dialogue turns to potential policy solutions, there is one area where all stakeholders appear to be finding common ground — increased competition from generic drugs is a proven way to ensure greater access while simultaneously keeping costs low for bothpatients and the overall healthcare system.
Year after year, generic medicines save patients and the U.S. health system hundreds of billions of dollars, yet account for only 28% of total prescription drug costs.
The value proposition provided by increasing competition provides an opportunity to increase access and further reduce costs to the system. There are policy and regulatory changes that, if enacted, would further enhance competition, create more access, and drive improvements and enhancements to the current prescription drug market.
GPhA and its members look forward to working with policymakers and other healthcare stakeholders to advance policies that will ensure more timely access to safe, effective and affordable generic and biosimilar medicines."
GPhA represents the manufacturers and distributors of finished generic pharmaceuticals, manufacturers and distributors of bulk pharmaceutical chemicals, and suppliers of other goods and services to the generic industry. Generic pharmaceuticals fill 88 percent of the prescriptions dispensed in the U.S. but consume just 28 percent of the total drug spending. Additional information is available at gphaonline.org. Follow us on twitter: @gpha.