FTC: Delays in Generic Drugs on the Rise

[Tucsonwoody]

Another example of how the drug industry keeps drug prices high.

From the Washington Post: full story at http://www.washingtonpost.com/wp-dyn/content/article/2007/01/17/AR2007011701277.html

By ANDREW BRIDGES
The Associated Press
Wednesday, January 17, 2007; 5:38 PM

WASHINGTON -- Drug companies increasingly are reaching legal settlements that delay the introduction of cheaper generic medicines and cheat Americans of billions of dollars in savings, regulators on Wednesday told lawmakers seeking to ban the agreements.

The Federal Trade Commission and others allege the settlements allow brand-name pharmaceutical companies to pay off would-be generic competitors, which then agree to delay introduction of their less costly but otherwise identical versions of the original medicines.

[Strayboy74]

Another example of how the drug industry keeps drug prices high.

On the reciprocate, some time ago, I was reading how the pharmaceutical companies who have patent rights to some drugs consistently "challenge the safety" of the generics by filing complaints with the FDA in order to delay their release and maintain market supremacy when their patent rights start to run out.

Underhanded, no doubt!

-joseph