Statement of Chip Davis, President and CEO of the Generic Pharmaceutical Association on HHS Secretary Nominee Tom Price:
Contact: Steve Arnoff 202.249.7113
WASHINGTON, DC (January 18, 2017) — “Congressman Price has a deep background and expertise in complicated health care issues and has been a leader in delivering high quality and affordable health care to all Americans. Balancing competition and innovation in the pharmaceutical sector is critical to ensuring affordable and accessible generic medicines and we look forward to working with Mr. Price should the Senate confirm his nomination.
Generic drugs are the foundation of any successful effort to lower health spending and increase patient access to affordable medicine. Generic medicines have saved Americans and taxpayers $1.46 trillion over the past ten years. Moreover, as we work together to preserve and strengthen Medicare and Medicaid, we will be sure to offer our policy ideas on how generic medicines can continue to provide massive savings to each critical program. Last year alone, generic medicines saved Medicare $67.6 billion, which translates to a savings of $1,737 per enrollee. For Medicaid, the savings were $32.7 billion, which translates to a savings of $450 per enrollee.
We stand ready to work with the President-elect, both parties in Congress, Rep. Price and his entire health care team to ensure that generic medicines continue to keep treatments within reach of all Americans.”
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 89 percent of the prescriptions dispensed in the U.S. but consume just 27 percent of the total drug spending. Additional information is available at www.gphaonline.org. Follow us on twitter: @gpha.