Do Generic Drugs Impact Innovation?
I am all for finding methods for bending the healthcare cost curve down. I understand the unsustainable position that our nation faces if we don’t succeed in containing costs. The use of generic drugs is an area that has proven to show great savings as evidenced by a recent study released by The Generic Pharmaceutical Association.
There is no doubt in my mind that generic drug usage will continue to increase and that payers will continue to offer incentives to convert consumers to the use of generic drugs. So we know that generic drugs can create significant cost savings but I can’t help but wonder if the use of generic drugs is stifling innovation of new drugs?
