08 Jul 2004 Banning Generic Drugs?
David Almasi has a new paper published on the website, “Spurring Lower Prices: FDA Aided America’s Rx Drug Companies By Not Banning Authorized Generics.”
In it, he argues that the FDA was right to reject a request from generic drug manufacturers that research drug companies should not be permitted to market generic versions of their own drugs.
Competitive forces have driven growth in the pharmaceutical industry by providing incentives for research-based pharmaceuticals to develop new and better drugs for the patients who need them and enabling generic drug makers to make more copies of those drugs available – sooner.
Just as the rise of generic drugs increased competition in the past, the emergence of “authorized generics” today is a way to deliver access to medicines more cost effectively.
Restricting authorized generics will only benefit generic drug makers intent on producing a copy they want to protect from competition. We should not allow generic companies to pick and choose what kind of competition in the marketplace is available to consumers. The market – not special interests – should be allowed to determine how much competition is “just right.”