Hikma celebrates 40 years of Hatch-Waxman drug savings

Hikma, a provider of generic medications, recognized an important piece of legislation that marked its 40th anniversary last week.

The Drug Price Competition and Patent Term Restoration Act of 1984, better known as the Hatch-Waxman Act, is a U.S. federal law that established the modern system for regulating generic drugs in the United States. The Act was signed into law on Sept. 24, 1984, paving the way for companies like Hikma to provide Americans with broad access to a wide range of more affordable generic medicines.

According to the Association for Accessible Medicines, generic medicines saved U.S. patients, employers and taxpayers more than $445 billion in 2023 alone, and more than $3 trillion in savings the last ten years.

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Hikma said it is proud to contribute to the 90% of all U.S. prescriptions which are filled with generic or biosimilar medicines. As a leading generics company in North America, Europe and MENA, with a portfolio of more than 760 essential medicines and a strong and growing U.S. manufacturing presence, Hikma said it "is committed to providing patients around the world with reliable and affordable high-quality medicines."

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