Robert Popovian, Pharm.D., MS, Founder of the strategic consulting firm Conquest Advisors (and also a member of the ACSH Scientific Advisory Board) and colleagues take on the important topic of generic drug prices, a sore spot for many Americans. Here is a summary of their latest article titled "U.S. Consumers Overpay for Generic Drugs." Dr. Popovian was formerly Vice President, U.S. Government Relations at Pfizer.
generic drugs prices
The FDA just announced the approval of a new drug for psoriasis. But it really isn't new at all -- it's a combination of two generic psoriasis drugs in one tube. The price of the tube is interesting and the company involved even more so. Welcome to the world of insanely expensive generics.
Epic patent gaming, and pay-for-delay agreements to slow-walk introduction of cheaper generics to market, helped bring us to this point. But will a growing behemoth of 750 hospitals actually lower drug prices?
Valeant Pharmaceuticals, a generic drug firm with a reputation far from sterling, is hurting from a nasty billion dollar payback. It incinerated that investment by purchasing "female viagra" a drug that should have never been approved, and no one is buying. Execs are probably not amused, but we sure are.