Generic and Biosimilar Manufacturers launch new brand and campaign

Generic Pharmaceutical Association becomes Association for Accessible Medicines.

The Generic Pharmaceutical Association, the nation’s largest trade group representing generic pharmaceutical and biosimilar companies, has unveiled a new national effort to contain the cost of prescription medicines. The group is becoming the Association for Accessible Medicines (AAM) to communicate its mission to make more medicines more accessible to more people who need them. The campaign the industry has launched, "Keeping Medicines in Reach," shares the story of patients whose health and lives are improved by access to generic medicines, just like millions of people across the nation.

"The Association’s new identity will improve recognition that the generic and biosimilar medicines industry is one of the nation’s great healthcare success stories, and that competition from generics and biosimilars lowers the cost of medicine," said Chip Davis, President and CEO, Association for Accessible Medicines. "Our medicines drive savings, not costs, and we stand ready to work with the President, Congress, patient groups and others to create real and lasting health cost solutions."

Generic medicines are nearly 90% of all prescriptions filled in the US every year but only 27% of total drug costs. The FDA states that generics are typically 80-85% less expensive than their brand name drug equivalents. Separate studies project that biosimilars, alternatives to costly brand biologic medicines, could save the healthcare system up to $250 billion in the next 10 years. Policies that reflect these market realities and appropriately differentiate the generic drug and brand drug business models can help increase patient access.

AAM also announced that Jeff Watson, President, Global Generics, Apotex Inc. was elected AAM Chairman, succeeding Mylan CEO Heather Bresch. The association elected Peter Goldschmidt, President, Sandoz U.S. and Head of North America, Sandoz, Inc. to be Vice-Chairman and Paul McGarty, President, Lupin Pharmaceuticals Inc. US, was elected Secretary-Treasurer. The AAM Board of Directors will expand to include representatives from all AAM member companies.

"Our evolution to the Association for Accessible Medicines reflects an industrywide recognition that it is time to amplify the critical cost savings and access that generics and biosimilars make possible," said Watson. "I look forward to working with the AAM Board and leadership as well as policymakers, regulators, patient advocates, and other partners in support of patient-centered and market-based solutions designed to increase competition and have a positive impact on patients’ lives."