FDA’s Office of Generic Drugs issued their 2022 Annual Report. Generic drugs are vital in saving payers and patients money. For example, pregabalin pills cost $450 for 30-day supply after its market exclusivity ended. But the price dropped to $23 (a 95% reduction) in the first 12 month following generic entry. This drug alone saved the healthcare system $6.6 billion. Generic sales saw a 95% price drop in the first 12 months.
The Office of Generic Drugs approved 106 of the first generic drugs in 2022. Here are some highlights of the report.