House Oversight and Government Reform Committee Holding Hearings Today to Examine Savings Opportunities with Biogenerics

(Washington, DC)— With increasing momentum being generated for passage of legislation that would create a clear regulatory pathway for follow-on biologics, or “biogenerics,” the Pharmaceutical Care Management Association (PCMA) believes the time to act is now in creating much-needed competition in this space.

In February, PCMA was joined by a number of influential consumer, employer, and insurer groups who endorsed the “Access to Life Saving Medicine Act of 2007,” bipartisan legislation that seeks to create a clear regulatory pathway for biogenerics. Today, the House Oversight and Government Reform Committee is holding hearings on this issue, while earlier this month, the US Senate Health, Education, Labor and Pensions Committee also examined the savings opportunities available by improving access and affordability for biologic products.

“This is one of those rare moments when a single piece of legislation can create an enormous ‘win’ for employers, consumer groups, taxpayers and patients alike. This is the year to finally close the loophole which protects America’s most expensive medicines from generic competition — even after their patents expire,” said PCMA President Mark Merritt.

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PCMA is the national association representing America’s pharmacy benefit managers (PBMs), which lower the cost of prescription drugs for more than 200 million Americans with coverage provided through Fortune 500 employers, health insurers, labor unions, and Medicare Part D

Contact Information:
Phil Blando, 202-207-3614
Charles Coté 202-207-3605