Generic drug accessibility and lower prices for these drugs is improved with recent passage of a House legislation.
The legislation, approved 234 to 183, stops big pharmaceutical companies (Big Pharma) from preventing generic manufacturers to create lower-priced versions of their products.
Generic Drug Accessibility: Lower Prices Necessary
The House bill, called ‘The Protecting Consumer Access to Generic Drug Act’, stops Big Pharma from paying generic drug manufacturers to delay bringing their medicines to market.
The Federal Trade Commission (FTC) reports that these payments actually delay generic drugs coming to market by 17 months. During this time, patients have no choice but to continue buying the higher-priced brand-name medicine.
The bill requires Big Pharma to give generic drug companies information and product samples. This allows them the ability to manufacture generic equivalents. The generics are also able to take Big Pharma to court if these items are not provided.
Legislators and Consumer groups believe that this legislation will also pass in the Senate with bi-partisan support. With Senate passage, lower priced generic drugs will help consumers on fixed minutes as well as senior citizens.