For cheap generic drug prices, you can thank 40 years of Hatch-Waxman

Published February 21, 2024 10:14am ET



Many things about the modern world we take for granted. Personal computers, cellphones, GPS — these things are ubiquitous now but were far less common just a few decades ago.

Here’s another item for that list: generic drugs. Today, when you fill a prescription, odds are it’s with a generic. In 2021, the Food and Drug Administration reported that 90% of all prescriptions filled in the United States were filled with generics. 

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