Amid ongoing rancor over the cost of prescription medicines, the trade group representing generic drug makers argued in a new report that Medicare Part D formularies are too often failing to cover lower-cost copycat treatments, robbing beneficiaries of potential savings.

To wit, nearly three years elapse before a so-called first generic — the first generic copy of a brand-name medicine to receive regulatory approval — is covered on half of all Part D formularies, or list of drugs for which insurance is provided, according to the report from the Association for Accessible Medicines. The report examined Part D formularies from 2016 through 2019.

Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!

GET STARTED

What is it?

STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What's included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • Online intelligence briefings
  • Frequent opportunities to engage with veteran beat reporters and industry experts
  • Exclusive industry events
  • Premium access to subscriber-only networking events around the country
  • The best reporters in the industry
  • The most trusted and well-connected newsroom in the health care industry
  • And much more
  • Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.

Leave a Comment

Please enter your name.
Please enter a comment.

  • The generic trade group is sooooooo correct !! There are no rules !!! Unfortunately DOJ allowed the atmosphere we presently have regarding the high price of drugs. This is the PBM’s ball field , it’s their bat and their ball. If a drug manufacturer wants to play ball, weather its a name brand or generic manufacturer, they have to abide by the PBM’s rules. The PBM’s rules are, whatever is done regarding what goes on formulary, we (The PBM’s) have to make a profit
    or the drug is not going on formulary! PBM’s have their “Take it (as we present it)or leave it attitude! PBM’s don’t care
    about the patient, their client, or the government. Their loyalty is to their pocket and how much money they can make.
    Why would a PBM construct a formulary where only the brand name drug that cost $150 be covered and the same drug in generic form that cost $10 not be covered? It’s all for the PBM’s greed to steal those drug rebates. Yet everything is a secret. We need the PBM’s to be 100% transparent, (Yea right!) and we need legislation to govern the
    PBM’s that handle billions of dollars of Americans drug benefits to take responsibility for the whereabouts of that money. DOJ never saw that they were allowing the wolf to watch the henhouse? Did they think the PBM’s were
    alter boys that would never look for the loopholes they found in Obama care? Well the PBM’s did and they went to town with it. This criminal activity will never stop until our government sees the light.

A roundup of STAT’s top stories of the day in science and medicine

Privacy Policy