Hatch-Waxman Act

The Hatch-Waxman Act, enacted in 1984, is U.S. legislation that promotes the availability of generic drugs. It allows generic drug manufacturers to enter the market more easily after the patent for a brand-name drug expires, thereby fostering competition and reducing medication costs for consumers. The Act includes a system for challenging patents, which helps streamline the approval process for generics while also balancing the interests of brand-name companies. This law has significantly increased the availability of affordable medications, benefiting both patients and the healthcare system overall.