America’s trade policy should reflect U.S. law and promote a balance between supporting the development of innovative medicines and promoting competition through greater access to generic and biosimilar medicines. Unfortunately, this policy objective, included in the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA), is often absent in U.S. trade policy.
U.S. trade has too often put the interests of pharmaceutical monopoly owners over the needs of the larger U.S. healthcare sector and, specifically, America’s generic and biosimilar manufacturers. As the U.S. government works to lower barriers for U.S. exports, the impact of trade policies on the U.S. economy must be considered. Restrictions and provisions included in trade agreements impact what laws and amendments Congress can and cannot pass. Therefore, it is critical that trade agreements, as they enter into force, have a holistic view of their benefits and costs.
U.S. trade policy should:
- Lower market access barriers for U.S. generic and biosimilar manufacturers
- Promote policies that do not prop up high U.S. drug prices
- Encourage patent and exclusivity policies that meet the needs of each trading partner and do not impede access to generic and biosimilar drugs
- Incentivize generic and biosimilar market access in the United States and in foreign markets
AAM applauds the House of Representatives' overwhelming bipartisan passage of the U.S.-Mexico-Canada Agreement.
- Press release: USMCA Sets a New Standard for Lowering Drug Prices and Expanding Access to Medicines
- Chip Davis: The Biosimilars Trade Opportunity
- AFL-CIO: Trade Must Build an Inclusive Economy for All
- Oped STAT: Trade agreement drug monopoly is obsolete given faster, better drug discovery
- Wisconsin Public Radio: Generics Trade Group Says USMCA Protects Pharma Monopolies