Generic Drug Prices Are Skyrocketing, Senate Will Investigate

November 13, 2014 6:06 PM

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The feds may need to tame market forces, because the prices of generic drugs are skyrocketing. The affordability principle lies behind generic drugs, but data from the last few years heavily contradicts the idea. Numerous drugs went from pennies per pill up to several dollars.

After drug patents expire and, presumably, original producers manage to recover the production costs, other manufacturers can use the formula to produce variants of the same drug. Production costs are, thus, much lower in the case of generic drugs. According to The Generic Pharmaceutical Association...

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