PCMA On New AARP Study: Biogenerics Will Help Lower Specialty Drug Costs For Consumers

Main Category: Pharmacy / Pharmacist
Also Included In: Pharma Industry / Biotech Industry
Article Date: 11 Mar 2009 - 2:00 PDT

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Pharmaceutical Care Management Association (PCMA) President and CEO Mark Merritt released the following statement today on a new report from AARP examining the high prices of various specialty products and the need for generic biologics to lower costs for consumers.

PCMA represents the nation's pharmacy benefit managers (PBMs), which improve affordability and quality of care through the use of electronic prescribing (e-prescribing), generic alternatives, mail-service pharmacies, and other innovative tools for 200-plus million Americans.

"This study is the latest sign of momentum surrounding biogenerics as an important health reform issue. The President's budget also included a provision that would create a regulatory pathway to approve generic biologics as a way to save billions of dollars for both the public and private sector.

"For over a quarter century, generic medicines have increased access and affordability for consumers, employers, labor unions, government agencies, and others. However, expensive biologics have not faced generic competition, straining public and private payers' ability to provide affordable drug benefits for these necessary and often life-changing products.

"Generic competition lowers costs because it gives patients the power to choose and gives manufacturers an incentive to reduce prices. We need legislation which allows generics to compete with biologics in the same way they already do with conventional drugs."

Pharmaceutical Care Management Association

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