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Boosting generic competition is not enough to reduce drug prices, study finds

Allowing more generic drugs to enter the market by expediting the approval process is an essential component for reducing prescription drug prices, but boosting generic competition alone is not enough to address this problem, according to a PwC study. Benjamin Isgur, who leads PwC's research institute, noted the government is progressing in the right direction in terms of lowering drug prices, but it needs to address the biologics and biosimilar market as well, noting such moves "will probably have the biggest influence on drug pricing over the next decade."

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