Prescription drug prices – How generic drugs can help if legislator let them
Everyone wants the most recent and greatest drug treatment at a cheap price. the only because of doing that is with a robust drug industry. The drug industry allows name drug makers to concentrate on drug development by offering an inexpensive option later during a drug’s life cycle. Chip Davis, president, and CEO of the Association of Accessible Medicines (AAM) discusses how generics are saving consumers many dollars. He explains why there's often price volatility with generics, how shortages in generics can affect prices, and why those shortages occur.
Davis explains the danger in setting price controls on generics. Through the supply chain, prescription benefit managers can impact drug prices and generics' role within the opioid epidemic. Davis explains why reducing supply won't be the solution to addressing the epidemic. according to AAM, generics represent 90 percent of all US prescriptions dispensed, but only 23% of what the US spends on medicine. Davis also provides an update on the lawsuit the industry filed against the state of Maryland when it attempted to manage drug prices.