Pharmaceutical companies limit competition from generic alternatives by producing their own, new report says

Generic drugs are supposed to be affordable. They are a service to people who cant afford the name brands but still need essential medications for everything from pain relief to allergy prevention. Big drug companies already have the ability to keep these cheaper alternatives off pharmacy shelves for years, but a new report from Kaiser Health News identified a way that drug makers are now using a workaround known as "authorized generics" to limit competition from generic alternatives while keeping prices high and turning a profit. Typically when a generic version of a drug comes to market, it is only made available after a company's patent protection has expired. That protection lasts for 20 years. After that, other companies can produce alternative versions of the medication. These drugs typically have the same active ingredients, purpose of use, dosage form, strength and intended effect for people who use them but may have slightly different aspects about them. For example, Flonase is a popular brand-name allergy medication but generic alternatives of the drug, fluticasone propionate, are produced and made available under labels like CVS or Walgreens. Generics can use different inactive ingredients to create a different flavors or bring down the cost with cheaper fillers. These modifications have to be tested and approved by the United States Food and Drug Administration before they are allowed to be sold to consumers.

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PR Newswire | January 25, 2024

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PR Newswire | January 08, 2024

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Medison Pharma Announces Agreement with Regeneron Pharmaceuticals to Commercialize Libtayo (cemiplimab) in Multiple Countries

PR Newswire | January 08, 2024

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