The Generic Pharmaceutical Association (GPhA) and its Biosimilars Council released a statement on Monday saying they believe the Trans-Pacific Partnership agreement will improve worldwide patient access to affordable medicines.
“Trade provisions that facilitate both the development of innovative, life-saving medicines and the availability of affordable generic medicines are a win for patients,” GPhA and its Biosimilars Council said. “We applaud the United States Trade Representative (USTR) and negotiating countries for working diligently in an effort to strike this balance."
The TPP Agreement includes 11 other Asia-Pacific countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. According to USTR, it is a trade agreement that will open markets, set high-standard trade rules and address 21st-century issues in the global economy, as well as will promote jobs and growth in the U.S. and across the Asia-Pacific region.
“GPhA and its members will continue to work with the USTR on the technical details of the final TPP to ensure that it promotes patient health and economic growth,” the association said. “The TPP presents an unprecedented opportunity to usher in a new era of global trade, patient access and health savings. We look forward to working with Congress and the administration to make this historic agreement a reality.”
The Generic Pharmaceutical Association is the nation’s leading trade association for manufacturers and distributors of generic prescription drugs, manufacturers of bulk active pharmaceutical chemicals and suppliers of other goods and services to the generic industry.