Dems New Pricing Bill Could Destroy The Generic Drug Market

Generic drug manufacturers are warning that Democrats’ new drug pricing legislation could have a devastating impact on the generic drug market.

Advocates are concerned that a provision in the $740 billion reconciliation package passed by Senate Democrats Sunday, allowing Medicare to negotiate drug prices directly with pharmaceutical companies, would undermine competition and long-term cost savings in the market provided by generics, according to Axios.

“The bottom line is that it’s competition that works,” CEO for the Association of Accessible Medicines Dan Leonard told Axios. “At the end of the day there...