FDA Targets Insulin for Increased Competition to Lower Prices
- Prices of the diabetes medicine have risen 270 percent
- FDA will expedite company applications for generic insulin
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The Food and Drug Administration will add insulin, a life-saving drug used by millions of diabetics, to its campaign to add generic competitors to brand-name products the agency believes are part of the U.S.’s medical cost problem.
One tool in the FDA’s effort is an agency-curated list of drugs that have lost their monopoly protections after their patents expired but that still lack a cheap generic version. The list is meant to highlight opportunities for manufacturers of generics, and the FDA has said it will expedite review of any application for a product on the list.