Statement by Chip Davis, President and CEO, GPHA, Regarding the PRICED Act

Article

The Generic Pharmaceutical Association and its Biosimilars Council strongly support H.R. 5573 introduced this week by Sen. Sherrod Brown and Rep. Jan Schakowsky.

PRESS RELEASE

"The Generic Pharmaceutical Association (GPhA) and its Biosimilars Council strongly support H.R. 5573 introduced this week by Sen. Sherrod Brown (D-OH) and Rep. Jan Schakowsky (D-IL).

The Price Relief, Innovation, and Competition for Essential Drugs (PRICED) Act will speed patient access to more affordable versions of some of the most expensive medicines by markedly reducing biologic exclusivity and increasing pharmaceutical competition, consistent with proposals in the President’s budget.

GPhA and the Council welcome efforts to update U.S. law in ways that improve patient access to biosimilar medicines, which are FDA-approved alternatives to costly brand biologics.

Projected 10-year savings from biosimilars range from $44 billion to $250 billion. Health system savings hinge on policymakers and regulators taking steps to encourage a robust competitive market for these safe, effective and more affordable medicines. As brand and specialty drug costs rise at a concerning rate, the association looks forward to working with Congress and others to ensure timely access to biosimilar medicines. Faster access to biosimilars will increase patient access to life-saving medicines and increase savings to the U.S. healthcare system."

Related Videos
cropped view of man performing chest compression on dummy during cpr training class - Image credit: LIGHTFIELD STUDIOS | stock.adobe.com
Medicine law concept. Judges gavel with pills | Image Credit: Iren Moroz - stock.adobe.com
Image credit: New Africa | stock.adobe.com
biosimilar word or concept represented by wooden letter tiles on a wooden table with glasses and a book | Image Credit: lexiconimages - stock.adobe.com
Image credit: alicja neumiler | stock.adobe.com
Laboratory test tubes and solution with stethoscope background | Image Credit: Shutter2U - stock.adobe.com
Image Credit: Pixel-Shot | stock.adobe.com
Pharmacist holding medicine box and capsule pack in pharmacy drugstore. -- Image credit: I Viewfinder | stock.adobe.com
© 2024 MJH Life Sciences

All rights reserved.