Shortages of drugs and biologics in the U.S. have been the subject of multiple congressional hearings recently. Economists teach that shortages are generally self-correcting because excess demand typically drives up prices, boosting incentives to increase production. But the number, persistence and scope of shortages for FDA-regulated pharmaceuticals indicate that the usual private and government mechanisms to resolve these vexing problems are not working.
Congress should step in to demand FDA do more to explain its actions to avoid and mitigate shortages, and to increase supplies.
FDA data on the number of shortages do not fully convey the problem. Drug shortages in the U.S. affect scores of widely used older drugs, including injectable dextrose, sodium chloride and water, as well as other sterile injectable products used in common medical treatments. In its most recent report to Congress, covering calendar year 2022, FDA reported a count of shortages that covered only those at least 12 months old. It excluded shortages younger than 12 months but active as of Dec. 31, 2022.
Continue reading this piece here at The Hill
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Randall Lutter is a senior fellow at the Manhattan Institute. Based off a recent report.
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