Obama Backs Generics

The new President of the US, Mr. Barack Obama is in the favor of the generic drugs. He has said that generic drugs are the future drugs, but he insisted on the point that they should be of a standard quality and approved by FDA. US Govt. has saved the millions in the last year because of the generic drugs and thus wants to continue with generic drugs in order to do the savings in the time of recession. Accordingly in the new budget, the president Obama had made it a point that new generic drugs will be brought to the market after the approval of the FDA, this move will surely benefit the insurers, patients, and taxpayers to save a considerably amount of money. Obama has also asked the FDA to accept the more proposals of the generic drugs in this new financial year.

Obama himself uses the generic drugs and said that generic drugs are absolutely safe, even during his early years he was not able to afford the branded prescription medicines so he use to opt for the generic drugs. Obama said that he never had any problem with the generic drugs. But, he said that please only use the generic drugs that are approved by the FDA because there are lot of companies that are still manufacturing the fake drugs. US govt. in the last year has done lot of promotional events to encourage the use of the generic in the country. Even some drug store also promoted use of the generic by giving away some of the generic drugs free on the purchase above 100 dollars, even the discounts were given to the customers on the next visit.

Obama also made it a point during his speech that purchasing from the online pharmacies not full proof, please check whether that pharmacy is genuine or just selling the fake drugs. The best thing is you can check the list of the drugs that is issued by the FDA that contains all the names of the drugs that are approved by the FDA. Obama has also declared that in the latest budget he will be trying to reduce the extra taxes on the medicines that will help the consumers to save on medications. Even the generic drug manufacturer have also reduced there prices so that consumers can get the medicines at the least possible costs.

A new bill has been passed in the Legislature assembly that the govt. will provide the finance to the individuals who want to start the generic drug industry. This bill will certainly give a new boom to the generic drug sector that will be finally beneficial to the customer. Kathleen Jaeger, president of the Generic Pharmaceutical Association, said the period of market exclusivity allowed under Hatch-Waxman should protect research and development investments. The law grants five years to makers of a new chemical entity and three years for more incremental innovation. Even the generic drug manufacturers are also very happy to know that now govt. will help them to do the clinical trials of the drugs they have manufactured.

The govt. has made a special department for the generic drugs that will specifically look over the quality and sale of the generic drugs. This department will be having an entire authority to approve or reject the generic drug depending on the clinical trials. Even the license to the new generic drug manufacturers or generic medications store will be given by this department. This department will soon be inaugurated by the Mr. Barack Obama and will start functioning from the 2nd April. This department will be having the list of the approved generic drugs that will be distributed to all the medical shops and then only they will be allowed to sale the generic drugs.