By: Katelyn Moon

One of the great triumphs of health policy is America’s generic drug mar- ket. Nine out of ten U.S. prescriptions are filled with generics. That over- whelming share saves patients and taxpayers hundreds of billions of dol- lars annually — and fuels innovation. Pharmaceutical companies know that their exclusivity on new therapies won’t last forever — typically only 12 to 14 years — which incentivizes them to keep developing new treatments instead of relying on older ones.

This achievement rests on one crucial principle: generics compete on cost, not by cutting corners on safety or effectiveness. Patients and providers trust these medicines because the law requires them to be clinically equivalent to their branded counterparts in every meaningful way — from active ingredi

See Full Page