Congressmen Seek Lower Cost Alternatives to Biotech Drugs
Members of Congress, including Senator Hillary Rodham Clinton, introduced legislation that will help lower the cost of biologic drugs. The “Access to Life-Saving Medicine Act ” will give the FDA authority to approve safe, lower cost copies of biotech drugs. Biotech drugs include some of the most expensive pharmaceuticals that are manufactured. These agents have traditionally been more expensive to manufacture because they are produced from living cell cultures rather than synthesized chemically. Biotech drugs are among the fastest growing and most expensive components of the nation’s drug costs.
Senator Clinton states that “without action, the manufacturers of biotech drugs can continue to charge monopoly prices indefinitely.” Biotech companies and trade groups oppose the legislation claiming that:
“Technology is not yet advanced enough to safely copy biotech drugs; and - Even small differenced in products can cause differences in effectiveness and cause unexpected side effects.”
Additionally, James C. Greenwod, president of the Biotechnology Industry Organization fears that the “legislation would deter drug makers from developing innovative biotech drugs by removing financial incentives.” The Pharmaceutical Care Management Association (PCMA) , a national association representing America’s pharmacy benefit managers, has endorsed this new legislation. The PMCA estimates that generic biotech drugs would cost 25 percent to 40 percent less than branded counterparts. Other positive benefits noted by the PMCA include increasing access and patient compliance to biotech drugs.
February 15, 2007 Related topics: Legal & legislative, Pharmaceuticals