FDA Issues New Report Touting Savings From Generic Drug Approvals

The more than 800 generics approved by FDA in 2017 have saved $11.8 billion for drug purchasers, according to a new FDA report released Tuesday (June 5). The report comes as the administration mulls two seemingly contradictory propositions: that lower-cost generic drugs are a solution to high drug costs, and that generic drug prices may be too low, threatening the stability of the market. “We estimate that the generic drug approval pathway in 2017 contributed to American drug buyers saving...