Generic Drug Prices Are Falling, But That May Not Be Reducing Out-Of-Pocket Costs For Many Consumers.

In a collaboration with ProPublica, the New York Times (8/8, Ornstein, Thomas, Subscription Publication) reports that “the prices of generic drugs have been falling, raising fears about the profitability of major generic manufacturers,” but “it’s unclear how much” consumers “will save,” because many consumers pay a fixed amount for generic drugs through their insurance. The article reports that the Food and Drug Administration, led by Dr. Scott Gottlieb, is working to increase competition in the drug market by “clearing out a backlog of generic-drug approvals” and other measures. Gottlieb said, “We’re looking to create competition where there isn’t competition.” https://www.nytimes.com/2017/08/08/health/generic-drugs-prices-falling.html