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Prescription drug list prices in the United States continually are among the highest in the world. [1] [2] The high cost of prescription drugs became a major topic of discussion in the 21st century, leading up to the American health care reform debate of 2009, and received renewed attention in 2015.
In 2005, the FDA held a Congressional hearing to review the situation. [21] The U.S. is an especially attractive market for counterfeiters, because 40% of worldwide annual prescription drug sales were made in the United States in 2007. [24] In 2011, a "PROTECT IP Act" was proposed to deter advertising.
After loss of exclusivity and generic launch the originator brand normally continues to hold at least some market share as either some doctors continue to prescribe the brand or as the originator equalises sales prices against the generic. [27] [28] Generic, brand and reimbursement (drug tariff) price decay
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President Donald Trump rolled back a Biden administration executive order aimed at lowering prescription drug prices, including an effort to make more generic drugs available to Medicare patients ...
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Generic companies incur fewer costs in creating generic drugs—only the cost of manufacturing, without the costs of drug discovery and drug development—and are therefore able to maintain profitability at a lower price. [19] [20] [21] The prices are often low enough for users in less-prosperous countries to afford them.
Price face-off: Generic vs. brand name products. Whitney Ruhlin. Updated July 14, 2016 at 7:48 PM. ... View the prices of 10 generic vs. brand name products: More on AOL.com: