AAM Welcomes Biden Moves To Strengthen Supply Chain
Executive Order Has Launched Review Of API Supply
US president Joe Biden’s latest executive order directing a review of the API supply chain has been welcomed by the country’s off-patent industry.
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The AAM has applauded US proposals to lower drug prices, following the development of the HHS’s 45-day plan in response to president Joe Biden’s executive order on promoting competition. However, AAM chief executive Dan Leonard has criticized Congressional proposals to weaken the 180-day incentive for first generics and curtail patent settlement agreements as “misguided.”
After US President Joe Biden launched a review of the country’s API supply chain, the task force has reported back with key vulnerabilities that contribute to drug shortages and supply risks during a global public health emergency. According to the report, the lack of geographic diversity and dependence on foreign nations and anti-competitive actions by foreign nations are key areas of concern.
Weaknesses in the global pharmaceutical supply chain, exposed and exacerbated by the coronavirus pandemic, have led major markets to pursue localization policies aimed at bolstering domestic production capacity. But any significant transformation promises to take many years.