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The Generic Pharmaceutical Association announces a rebranding campaign to expand access to medicines.
The Generic Pharmaceutical Association (GPhA) announced on Feb. 14, 2017 that the organization was rebranding as the Association for Accessible Medicines (AAM) as part of an effort to make medicines more accessible to the patients who may need them. A new campaign, “Keeping Medicines in Reach,” was also launched that will share patients’ stories of how generic drugs have helped them.
“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, in a press release. “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.”
AAM is beginning a new national effort to keep prescriptions costs affordable. According to AAM, nearly 90% of all prescriptions filled in the United States each year are generics but those generics only make up 27% of total drug costs. Generic drugs are also 80–85% less expensive, according to FDA, and biosimilars are projected to save the healthcare system up to $250 billion in the next 10 years.
“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 Jeff Watson, newly elected AAM Chairman and president, Global Generics, Apotex Inc., in the release. “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.”