GPhA re-emphasizes need for biogenerics legislation

ARLINGTON, Va. In regards to the meeting of the Joint Economic Committee today on Capitol Hill about the skyrocketing prices of certain prescription drugs, the Generic Pharmaceutical Association released a statement again about the need for biogenerics in this country.

According to GPhA president and chief executive officer Kathleen Jaeger, “Countless patients in need of life-saving biopharmaceutical treatments are struggling to afford their high costs. For patients facing serious conditions such as cancer and heart disease, safe and affordable biogenerics would allow them to improve their lives while reducing their health care costs. With some biopharmaceuticals costing hundreds of thousands of dollars per year, patients must have timely access to life-saving biogeneric medicines.”

The statement also acknowledged a report from the biogeneric company Insmed, which stated that, $236 to $378 billion in savings, could be achieved over 20 years if generic versions of the top 12 categories of biologics with patents that either expired or will soon expire became available to patients.

Jaeger continued, noting that, “these are significant savings that we cannot afford to ignore.”