Abuse of US generic-drug rules costs consumers billions, report says - (Business Insider via NewsPoints Desk)

  • A report by Matrix Global Advisors and released by the Generic Pharmaceutical Association said that FDA rules, aimed at ensuring prescription medicines are not misused, have been manipulated by drug companies to keep generic competition off the market, as reported Business Insider Wednesday.
  • According to the report, the regulator's risk evaluation and mitigation strategies (REMS) have been used to prevent generic drugmakers from getting the drugs in order to test their own versions, which is required to gain FDA approval.
  • This has reportedly delayed the launch 40 potential generic drugs, costing consumers around $5.4 billion a year.

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