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No hospital pharmacy can reasonably expect to stock the myriad of new drugs which the pharmaceutical industry is producing. Any attempt in this direction would be wasteful and certainly would not contribute to better patient care. Many drugs become stale rapidly, and more new drugs fall by the wayside each year than join the physician's permanent arsenal of defense. Likewise, when a hospital pharmacy is required to stock multiple brands of the same drug, all of which are produced by reputable manufacturers, the result is higher costs without benefit to the patient.
The objective of a hospital formulary is to provide an efficient mechanism whereby doctors and pharmacists can join together in the selection of high quality drugs of recognized therapeutic value, produced by reputable manufacturers, which will be stocked by the pharmacy without unnecessary duplications. Physicians want to cooperate in this worthwhile effort as long as their patients receive
HOSPITAL FORMULARY SYSTEM. JAMA. 1963;185(6):534. doi:10.1001/jama.1963.03060060132022