PUBLISHER'S LETTER
Sen. Hatch, Rep. Waxman Stress Important Role
Generic Medicines Play in Strengthening Health
Care System on 25th Anniversary of Hatch-Waxman Act
On
September 24, 1984, the Hatch-Waxman Act creating the modern generic
pharmaceutical industry was signed into law at a White House Rose Garden
ceremony. Commenting on the 25th anniversary of this piece of legislation,
Generic Pharmaceutical Association president and CEO Kathleen Jaeger said:
“Twenty five years ago, I’m not sure President Reagan, Senator Hatch or
Representative Waxman could have truly envisioned the extraordinary success and
lasting magnitude of the Hatch-Waxman Act. Our industry is proud of how far it
has come in the past 25 years. Today, generic medicines represent 72 percent of
the total prescriptions dispensed in the United States, but only 17 percent of
all dollars spent on prescription drugs…”
The founders of the Hatch-Waxman Act told the Generic Pharmaceutical Association Annual Policy Conference that generics have saved the American health care system far more money than predicted, and praised the industry for the vital role it plays in bringing high quality, effective and affordable medicines to consumers. To ensure that greater access to generics is continued, both called for increased funding for FDA’s Office of Generic Drugs (OGD).
Senator
Orrin G. Hatch, (R-Utah), emphasized that timely access to high quality generic
drugs is “important, especially as we consider health care reform legislation.”
He also noted that during these difficult economic times, generics play a
critical role. He stated that the House funding did not go far enough and he
supported the higher increase in the Senate legislation.
Chairman
Henry A. Waxman (D-Calif.), echoed Senator Hatch’s support
for increased OGD funding stating that, “making sure consumers have access to
generic drugs has been one of my chief goals in Congress.”
On reverse payments, Senator Hatch firmly stated that when he and Rep. Waxman created the Hatch-Waxman Act, it was critically important to allow generic companies to challenge patents to provide incentives to get to market early. He noted that the current bill pending in the Senate Judiciary Committee “doesn’t strike the right balance.” He went on to say that Congress has an obligation to consumers not to jeopardize a program that has saved significant money.
12/01/09
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Until next time….
