Drug companies are sitting on generics—43% of recently approved aren’t for sale
Found on Ars Technica on Friday, 08 February 2019
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.
Whatever the reason, keeping approved generics from the market is “a real problem because we’re not getting all the expected competition,” FDA Commissioner Scott Gottlieb said in an interview with KHN.
Clearly the free and unregulated market does not work as promised, so it is time for the government to step in.