U.S. Chamber Decries FDA's Proposed Rule on Generic Prescription Drug Labeling
WASHINGTON--(BUSINESS WIRE)--Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement today decrying the Food and Drug Administration's (FDA) proposed rule abandoning its requirement that generic drugs carry warning labels identical to those on name brand equivalents.
"The FDA's proposal writes a prescription for mega lawsuits against generic drug makers by plaintiffs' lawyers alleging that generic labels are somehow inadequate.
"The proposed change would make warning labels inconsistent and confusing for consumers. It would also force generic manufacturers to conduct costly research and create a structure to assess their labels, which would in turn lead to higher drug costs.
"It is unfortunate that the FDA is considering a change that could drive up the cost of generic drugs, perhaps by billions of dollars."
ILR seeks to promote civil justice reform through legislative, political, judicial, and educational activities at the national, state, and local levels.
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