US Elections Place Spotlight on Generic Drugs

Generic drugs have long been used by customers who prefer not to have to pay exorbitant rates for branded medications, when they can easily get the same generic versions of the drugs at a fraction of the price. With many of the top pharmaceutical companies in India, Israel and other countries manufacturing generic versions of their branded medications, more customers have come to realize that these medications are not just cheap and effective, but also safe to use.

Now, generic drugs have found a place in the news coverage of the US elections. The contenders in the presidential election, Barack Obama and John McCain may not have a whole lot in common when it comes to education, the economy and foreign policy of the US. They may not even agree on the right way to expand the availability of healthcare in the US which has some of the most expensive prices for medical treatments in the world. But they do agree on one thing - generic medications are an important part of making sure that healthcare of all is a reality in the near future.

The candidates, who have been busy campaigning before the election date draws near, have not agreed on many issues in this election. But, as their healthcare advisors made clear, each of them is in favor of the use of generic drugs to bring down the costs of healthcare in the country.

In the US, drug prices are not regulated as they are in other countries. This has led to drugs costing exorbitant sums of money. The common American finds it difficult to afford the cost of medical treatment, which may or may not be covered by insurance. Not all medications are covered by insurance either. Besides, there is a whole section of uninsured or under insured Americans who have no means of being able to pay for expensive healthcare, if they are ever suddenly taken ill. According to recent estimates, there are more than 45 million Americans who do not have health insurance in the US. Imagine the predicament of these people, when they not only have to pay for treatment for their illnesses, but also pay for expensive medication therapies, sometimes for weeks after the illness has been treated.

According to a spokesman of John McCain, the Senator from Arizona intends to make the process of developing generic drugs and getting them to the market, quicker. The Obama campo has also made similar assertions. The Obama campaign says that if elected, Obama will also work to end the payment of lucrative settlements by brand name medication companies to generic companies to delay the launch of the generic versions of the brand name drugs.

This is bound to be good news for manufacturers of generic drugs who have been engaging in mergers to strengthen their positions in the generic drugs industry. It's high time the American administration which has so far adopted an ostrich like attitude with regards to its position on generic drugs, realizes that generic drugs are the only answer for millions of its citizens who are kept away from affordable health care.

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