STAT Plus: Generic makers claim Medicare Part D plans crowd them out, hurting seniors
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.
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