FDA Delays Costing Money and Lives

August 7, 2014 7:50 PM

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FDA Delays Costing Money and Lives

The Food and Drug Administration (FDA) began approving generic prescription drugs over 30 years ago. Today, generic drugs sell at prices that are 75 percent less than name brand products, and they are estimated to have saved consumers more than $1 trillion over the last decade.

Like the savings that generic drugs have brought to consumers, there is another opportunity for increasing competition and dramatically reducing pharmaceutical drug costs. This time, it involves a growing, but expensive, innovative class of drugs, called biologics, and the potential introduction of ...

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