GPhA, the generic drug industry’s leading trade organization, adopted a new name: the Association for Accessible Medicines (AAM). The new name reflects the organization's mission “to make more medicines more accessible to more people who need them.”
In a move that reflects the dominance of generic pharmaceuticals, GPhA, the industry’s leading trade organization, adopted a new name: the Association for Accessible Medicines (AAM).
The name change is a result of AAM’s mission “to make more medicines more accessible to more people who need them.”
In a press release, President and CEO Chip Davis said that the association’s new identity will help to improve recognition that the generic and biosimilar medicines industry is one of the nation’s great health-care success stories, and that competition from generics and biosimilars lowers the cost of medicine. “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,” Davis said.
AAM Chairman Jeff Watson, said that the organization’s evolution to the new name reflects an industry-wide recognition that: “it is time to amplify the critical cost savings and access that generics and biosimilars make possible.”
Watson, who is President, Global Generics, for Apotex Inc., added: “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.”
Related article: How New Biosimilars Will Impact the Market
According to AAM, approximately 90% of all drug prescriptions in the U.S. are generics, however, they make up only 28% of drug costs. AAM states that spreading awareness about generic drugs (particularly biosimilars, which the organizations says could save $250 billion in the next 10 years) is paramount in the effort to lower drug costs.
As a part of its new identity, AAM is launching a campaign entitled: “Keeping Medicines in Reach.” The goal of the campaign is to share the stories of those who have been helped by access to generic drugs.
Related article: Are payers optimistic about biosimilars’ savings?