You would think that manufacturers interested in making sure their products are safe would welcome the new rule. However, because the current system works to immunize generics manufacturers, a change that would work to make the products safer would also open the door to possible liability. Thus, as you would expect from those who are more interested in profits than safety, the manufacturers hired a consulting firm to conduct a cost-beneift analysis of the consequences of the new rule. And, not surprisingly, the analysis concludes that the change is not good for consumers. You can read the report here. Then, go here for a report by Center for Justice & Democracy (called "America’s Unaccountable Generic Drug Industry; How Legal Immunity Could Be Making You Sick") which explains how deficient the current system is. You can then form your own opinion. For more on this issue go here, here, here, here and here (video).
In April 2015, the New York Times published story stating that
The pharmaceutical industry mounted a new challenge on Friday to a federal plan that would require generic drug companies to take the initiative to update their labels to warn consumers whenever health risks were discovered, a shift that would expose the companies to legal liability.Not much has happened since. The rules were supposed to have been finalized in December 2015, but the FDA delayed taking action until July 2016. Yet, no action was taken, and two weeks ago, despite years of work, and calls from both inside and outside of the agency to ensure accurate and up-to-date warnings are provided to consumers by generic drug manufacturers, the FDA posted a notice announcing the withdrawal of the proposed rule involving label changes.
During a public meeting at the Food and Drug Administration, the industry proposed instead that the F.D.A. itself should decide whether new warnings on drug labels are required and, if so, order companies to make the changes. But consumer advocacy groups said the companies were trying to shift responsibility to an agency that lacks the resources to track the vast array of drugs on the market.
AboutLawsuits has the story here.