Generic drug prices are declining, but many consumers aren’t benefiting

Not all drug prices are going up. Amid the public fury over the escalating costs of brand-name medications, the prices of generic drugs have been falling, raising fears about the profitability of major generic manufacturers. Last week, Teva Pharmaceuticals reported that it had missed analysts’ earnings estimates in the second quarter and planned to lay off 7,000 workers. Its share price plummeted 24 percent in one day as investors worried there was no end in sight. Share prices of other generic drugmakers also declined, as did those of wholesalers, which profit from the sales of generic drugs and have said they expect prices to continue declining.

Balderas wants answers from EpiPen maker

Attorney General Hector Balderas announced Wednesday that his office sent an investigatory letter to the makers of EpiPens. The devices, which inject synthetic adrenaline through the brand-name injector to those suffering severe allergic reactions, have been in the news recently after public outcry about a massive increase in costs in recent years. The prices for the devices increased 550 percent in just under a decade. The Attorney General’s office wants Mylan, the manufacturer of EpiPens, to provide his office information on EpiPens in New Mexico. Balderas is requesting how many such devices were sold in New Mexico in the last five years, how many schools take part in the controversial “EpiPen4Schools” program, the number of EpiPen prescriptions paid for by Medicaid in New Mexico, copies of all advertising for EpiPens in New Mexico and more information on EpiPens sold by Mylan in New Mexico.