Drug companies are sitting on generics — 43% of recently approved aren’t for sale in the US
Of the more than 1,600 generic drugs approved by the Food and Drug Administration since January of 2017, more than 700—or 43 percent—are not for sale in the US, according to a new analysis by Kaiser Health News.
The finding means that many pricy, brand-name drugs are not facing the competition that could help drive down soaring prices. Among the drugs missing in action are generic versions of the expensive blood thinner Brilinta and the HIV medication Truvada. Moreover, of the approved drugs that would offer a brand-name drug its first competition, 36 percent are being held off the market, the analysis found.
He added that an FDA analysis found that on average it takes the introduction of five generic versions of a drug to the market to drive down a drug’s price to 33 percent of the original branded price.
|Drug companies are sitting on generics—43% of recently approved aren’t for sale
You pay more for medicine because hundreds of generics aren't for sale.