Trump’s speeding generic drug approval
Back in 2016, the Food and Drug Administration gave its approval to 73 new generic medications. Those figures rose year after year under Trump’s administration, reaching 107 in 2019. The same year, Congress passed new legislation that would bring even more generics to market, even faster in the future.
The Creates Act would allow generic drug makers to go ahead and sue drug developers that would withhold information that is needed to manufacture generics, in a more timely way once patent protection is about to expire.
Pharmaceutical companies did a heroic job in 2020, as they brought coronavirus vaccines to market very fast, but unfortunately, predatory pricing shadowed the industry for many years. However, faster approval of such generics is a first step toward the solution. So kudos to Trump’s decision!