Obama and GDs Industry

The selection of Barack Obama as the new president of America is the good sign for the generic drugs (GDs) industry. Barack Obama claimed the White House on Tuesday night, saying his election as the first African-American president of the US sent a message that “change has come” to a troubled nation. The spokesperson from Teva pharmaceuticals, a generic drug giant, said that generic drugs now have great support and could benefit from Obama and the Democrats running the show next year. Generics drugs represent 65% of the total prescriptions dispensed in the US. The win of Obama, who favors cost savings as key to health reform and aims in his health plan to increase the use of generics, is expected to give a big push to generic drug manufacturers.

Generic drug industry was suffering the lots of probes from the original drug manufacturers for copying there drugs formulation, but after the selection of the Barack Obama, these generic drug manufacturers can relax as he will be giving more stress on using the generic drugs. The probes against the generic drugs manufacturers may be resolved as the new laws for the generic drug manufacturer will be soon developed by the Food and Drug Administration. Barack Obama says that he also prefer the generic drugs when they are same effective and low in price than the brand name drugs. But, he strictly mentions that quality of the drug should be appropriate as per the standards mentioned by the FDA. He says that people health is a major consideration for him than the profits for the government and to the companies.

Obama’s views on the healthcare reforms will be beneficial to the generic drug manufacturers. Obama has also said that he will sort out the things and will try to cut down the taxes on the generic drugs thus making the generic drugs cheaper than before. The historic win for Obama will create a new history in the field of generic drugs by making them more standard oriented and cost effective. The difference between the generic drugs and the branded drugs is considered to be same like the racial difference between the blacks and whites. Thus, as the black has won even the generic drugs will now win over the branded drugs.

Democrats’ election manifesto talks of various initiatives to boost consumption of generic drugs, hence Obama becoming president will be positive for generic drug manufacturers. Obama will take care that generic drugs reach to the each and every part of the United States and every customer gets the benefits from the generic drugs. There will be a new department for the promotion of the generic drugs that will work not only in United States but also all over the world for explaining the benefits of the generic drugs. Even the generic drug manufacturers like Teva, Ranbaxy, Barr, etc are happy with the selection of Obama as the new president of United States.

The generic drugs manufacturing companies are hoping a positive change in the markets of the generic drugs as a result of the selection of the Obama as a new 44^th president of United States. Not only the generic drugs but also the branded drugs will be beneficial by the pharmacy policy of Barack Obama that will cut of the costs of raw material required by the pharmaceuticals to manufacture the drugs. The only one concern is about the Obama’s strict perspective regarding the quality of the generic drugs. He has also said that there will be no compromises on the standard and safety of the generic drugs. Hence, the selection of Obama will certainly have a positive impact on the generic drugs industry.