CPA’s report, titled “Generic Drug Shortages and How a Race to the Bottom in Price has Upended 30 years of Hatch-Waxman,” details how a loophole in the Hatch-Waxman Act has led to generic drug shortages in the U.S., offshoring of America’s domestic production of generic pharmaceuticals to China and India, and price gouging by foreign companies in the U.S.
The report documents specific generic medicines and foreign companies that have slashed prices or acquired their American competitors to gain a monopoly over the production of one drug, only to gouge U.S. patients by raising prices as much as 2,000 percent once they eliminate their competition.
Read CPA’s press release here.