As 2015 draws to a close, the year is on track to be one in which the value of the branded drugs losing their patent protection approaches an all-time high. The dozens of drugs that will have lost their patent protection this year are estimated to have global sales of $44 billion a year — the highest total since $53 billion worth of medications went off patent in 2012.
Rapidly rising prices for many generics, regulations that could restrict patients’ access to these medications, a Food and Drug Administration backlog in getting new drugs approved and market consolidation that is reducing competition are all making some wonder how much longer generics will continue to be affordable.
As health care continues to shift to an evidence-based model, ensuring patients are on the right therapy is a critical part of delivering improved health outcomes. Enter MD Labs and the company’s RxIGHT Pharmacogenetic test,
New Jersey Gov. Chris Christie this week signed legislation allowing pharmacists to subsistute FDA-approved biosimilar products for biologics, and Generic Pharmaceutical Association voiced its support for the move.