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Generic drugs approved in record numbers. Increased competition could drive down costs

Generic medications are often a great way to save money on prescriptions. And in 2017, the Food and Drug Administration approved 1,027 generic drugs – a record.

Those approvals push the generics to market, which increases competition and can help drive down prices.

“Drug access is a matter of public health concern,” FDA Commissioner Scott Gottlieb said in October, according to The Hill. “We know that enabling more generic competition, where Congress intended, helps reduce prices, enable more access, and improve public health.”

The Trump administration has cited high prescription drug costs as an issue it wants to tackle, and a Kaiser Family Foundation poll found lowering prescription drug prices is among the top health care priorities of Congress, regardless of party.

“enabling more generic competition, where Congress intended, helps reduce prices, enable more access, and improve public health.”

Getting generic medications to market is one sure way.

Have you struggled with high prescription costs? Did you switch to an alternative drug to save money? Share your story.