Prescription drug prices soften dramatically even with moderate competition, the FDA said Tuesday in an analysis that shows the arrival in the marketplace of just two generic versions of a brand-name medicine can nearly halve the price consumers pay.
When a brand-name drug faces just one generic competitor, that challenger typically sells for 94 percent of the cost of its branded rival.
More competition quickly widens that discount: Once a second generic manufacturer appears, the average price of a generic drug drops to just 52 percent of the brand-name version's cost per dose, according to the analysis posted on the FDA's website.
More here
Insiders view: Well I never! What a surprise. Pass insider a chair.
This GOTBO (glimpse of the bleeding obvious) analysis will have taken up someones time at the FDA when they should have been getting on approving more generics.
The agency has a backlog of roughly 800 generic drug applications.
Cut the analysis guys and get on with that backlog!
3 comments:
This is assuming they don't price fix like in the UK. Generics aren't the Robin Hoods they'd like you to believe.
http://news.bbc.co.uk/1/hi/health/4878346.stm
Yep! We just get screwed for less with generics....
Yep! They don't deposit any innovation.
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