In the State of the Union address, President Barack Obama called for a major new initiative to identify a cure for cancer. GPhA applauds this administration's efforts to fight cancer by funding the research that we all hope leads to a cure.
WASHINGTON, DC - “In the State of the Union address, President Barack Obama called for a major new initiative to identify a cure for cancer. GPhA applauds this administration’s efforts to fight cancer by funding the research that we all hope leads to a cure.
Innovation is needed to advance pharmaceutical science and get us closer to beating cancer once and for all. However, innovation cannot be truly impactful without access. Competition from generic drugs provides the government and other health stakeholders with the necessary headroom to invest in cancer research and related projects. A healthy pharmaceutical market, one that balances innovation and competition, is crucial to positive patient outcomes and generates the savings that makes these investments possible.
Generic oncology therapies saved the U.S. $7.5 billion in 2014 with cancer anti-nauseants generating another $11.6 billion in savings, according to the Generic Drug Savings in the U.S. report. To ensure these savings continue, Congress must avoid addressing outlier pricing actions taken by individual companies with sweeping policies that restrict patient access. Instead, policymakers should:
The association looks forward to continuing its work with the Administration, Congress, regulatory agencies and others to ensure that this industry’s remarkable record of patient access and patient savings can continue.”
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.