Generic News

FEBRUARY 01, 2004

Consumers Benefit with Generic Drug Access

The Generic Pharmaceutical Association (GPhA) recently praised the passage of the Medicare bill. GPhA officials believe that the new legislation, with its strong generic access provisions, is a major victory that will make health care more affordable for all American consumers.

"We applaud Congress for responding to America?s call for relief from rising prescription drug costs by passing measures that will eliminate some of the most serious barriers to generic competition as part of the Medicare reform package," said Kathleen Jaeger, president and chief executive officer of GPhA. "The generic access provisions of this legislation will close certain loopholes that have unnecessarily delayed the timely introduction of generic drugs and solidify the incentive for generic challenges of weak or invalid patents."

The US generic pharmaceutical industry saves consumers almost $100 billion annually in pharmaceutical costs. Increasing timely access to generic drugs will deliver immediate and significant additional savings to all consumers, according to GPhA officials.



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