Thursday, November 17, 2011

Is this in your best interest?

The story not told here, is that the generic medications appear to be cheaper to the patients, but that is not always the truth.  In fact more time than not the branded drug can be either very close to or even cheaper than the generic drug with incentives to both the insurer and more importantly the patients.  The only ones really winning here are the insurance companies and to a larger extent the pharmacies.  Their profit margin on generic drugs is exponential compared to branded drug.  Lets keep in mind that I am not aware of too many generic drug companies that research and develop new and improved drugs, are you?  So, maybe this is not such a good idea that a Brand drug company pay a generic company to stay out of the way for a little while, but with that must come reform to correct the application process and market protection of new drugs otherwise we won't have any new one because there will be little incentive to spend the dollars on R & D.  Tell me what you think...

Oh, and by the way... lets not forget that the gov't prohibits manufacturer rebates or coupons to those patients on Medicare and Medicaid... WHY???  Should my parents or grandparents have to pay more than me for a cream or pill???

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