Price
spikes in the generic drug market are jeopardizing provider and patient access
to essential medicines. With their unique role and position in the healthcare
supply chain, group purchasing organizations (GPOs) often see early warning
signs of potential price spikes.
The
Healthcare Supply Chain Association (HSCA)
is urging Congress to address price spikes in the generic drug market. Today
HSCA issued a press release about its efforts urging Congress to grant the U.S.
Food and Drug Administration (FDA) authority to expedite review and approval of
new drug applications for products where there are two or fewer manufacturers,
or in instances where there have already been price spikes.
“Significant
recent price spikes in the generic drug market are an enormous risk to public
health and are jeopardizing patient access to affordable healthcare,” said HSCA
President and CEO Todd Ebert, R. Ph. “HSCA and its member group purchasing
organizations are committed to lowering costs and increasing competition in the
healthcare marketplace. We urge Congress to give FDA authority to expedite
review and approval for new generic drugs that have the potential to mitigate
price spikes and help ensure access to critical medications for healthcare
providers and the patients they serve.”