Vizient Analysis Shows Ending Unapproved Drugs Initiative Could Save Between $7.52 Billion and $26.59 Billion
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Monday, November 23, 2020
Medical devices, Medical Supplies, FDA, Hospitals, Public policy, Government, Practice Management, White House, Federal Government, Health, Pharmaceutical, United States, Food and Drug Administration, United States Public Health Service, Unapproved Drugs Initiative, Donald Trump, Health care in the United States, Businesspeople
An updated analysis by Vizient, Inc. demonstrates again that ending the Food and Drug Administrations (FDA) Unapproved Drugs Initiative (UDI), as President Trump recently announced he intended to do, could save the U.S. health care system billions of dollars.
Key Points:
- An updated analysis by Vizient, Inc. demonstrates again that ending the Food and Drug Administrations (FDA) Unapproved Drugs Initiative (UDI), as President Trump recently announced he intended to do, could save the U.S. health care system billions of dollars.
- A further $19.07 billion could be saved by ending the market exclusivity for the five drugs approved through the program that have already added $3.15 billion in spending.
- This analysis, which incorporates an additional seven months of market data, confirms that the total the program, if left unchanged, would add $29.7 billion in healthcare costs.
- Market analysis estimates an increase in U.S. health care spend of $19.9 billion over the life of the patent.