FDA wants to lower drug prices by approving generics

The FDA Commissioner, Scott Gottlieb, said Monday he is going to try lowering drug prices by giving top priority to approving new generic drugs in markets where there are fewer than three generic competitors.

Why it matters: Drug prices aren't officially a part of the FDA's mandate — it is barred from taking prices into account when it decides whether to approve a new drug — but Gottlieb is identifying steps the agency can take that might have an indirect impact.

Gottlieb said the FDA would also be knocking out a backlog of 2,640 generic-drug applications pending review in the next year.