The history — and shaky future — of the generic drug market
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 20 September 2024
⏱️ 9 minutes
🧾️ Download transcript
Summary
This September marks 40 years since the birth of the generic drug industry in the United States. They saved Americans nearly $450 billion last year alone. But all is not well in the industry — big players are leaving, and drug shortages are common. Will we still be able to depend on affordable, high-quality generics in the future? Also: new rules on bank mergers, and a disagreement between the stock market and bond market.
Transcript
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| 0:00.0 | Hi I'm Kai Rizdahl the host of How We Survive |
| 0:03.4 | It's a podcast from Marketplace. In 1986, before I was a journalist, I was flying for the Navy. |
| 0:09.6 | Mr. Gorbachev, tear down this wall. |
| 0:14.4 | It was the cold war and my first deployments were intercepting Russian bombers. |
| 0:18.6 | Today though, there's another threat out there, climate change. |
| 0:22.6 | This could be the warmest year on record. |
| 0:24.6 | Climate change is here. |
| 0:25.7 | Temperatures here are warming faster than anywhere on Earth. |
| 0:29.5 | And while the threat seems new, the Pentagon's been funding studies on climate change since the 1950s. |
| 0:35.9 | I think we will put our troops and our forces at higher risk if we don't recognize the impact of climate change. |
| 0:44.7 | This season, we go to the front lines of the climate crisis |
| 0:47.5 | to see how the military is preparing for the threat. |
| 0:51.0 | Listen to how we survive, wherever you get your podcasts. |
| 0:56.6 | The stock market and the bond market disagree. |
| 1:00.8 | From Marketplace, I'm Sabri Benashore in for David Brancaccio. |
| 1:04.0 | Markets responded pretty quickly to the Fed's rate cut this week. |
| 1:07.0 | Yesterday the S&P closed up 1.7%. |
| 1:10.0 | The Dow jumped 500 points, 1.3%. The NASDAQ surged 2.5%. So why is the stock market so thrilled? And can these heights be maintained in the short term? |
| 1:21.2 | Christopher Lowe is chief economist at FHN Financial in New York |
| 1:24.5 | and joins us to talk about it. |
| 1:25.6 | Hi Chris. |
| 1:26.6 | Good morning, Subbury. |
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