2020 was a huge year for generics. How big? The US Food and Drug Administration (FDA) approved or tentatively approved the drug applications for 948 generic medications in 2020, according to The Office of Generic Drugs 2020 Annual Report.
A large number of the newly approved generics were fast-tracked in connection with the Covid-19 pandemic. However, there are numerous other generics now available that are of more general interest to patients and healthcare providers, including:
So how’s 2021 shaping up?
The generic field is looking strong, with 20 new approvals already under the belt of the first quarter of this year.
As new generics gain approval, patients and healthcare providers benefit from more choices, as well as an opportunity for significant cost savings, especially if the generic treats a chronic or complex health condition.