Sun Dec 9, 2012, 11:59 AM
Whovian (2,866 posts)
Supreme Court to hear "pay-for-delay" drug case. Sickening to even hear this.
(Reuters) - The Supreme Court agreed on Friday to decide whether brand-name drug companies may pay money to generic drug rivals to keep their lower-priced products off the market, a practice estimated to cost consumers and the government billions of dollars each year.
The arrangements, known as "pay-for-delay" or "reverse payments," have for more than a decade vexed antitrust enforcers, including the Federal Trade Commission (FTC), which have been stung until recently by a series of court decisions allowing such practices.
In a typical case, a generic rival challenges the patent of a brand-name competitor, which then pays the rival a sum of money to drop its challenge. Defenders of the practice call it a legitimate means to resolve patent litigation.
The court accepted an appeal by the FTC, which had challenged annual payments of $31 million to $42 million by Solvay Pharmaceuticals Inc, now owned by Abbott Laboratories, to stop generic versions of AndroGel, a treatment for the underproduction of testosterone, until 2015.
More at http://www.reuters.com//article/2012/12/07/us-usa-court-drugs-payfordelay-idUSBRE8B617T20121207
Capitalism at its finest. Screwing people and their government all at the same time.
4 replies, 717 views
Supreme Court to hear "pay-for-delay" drug case. Sickening to even hear this. (Original post)
Response to Whovian (Original post)
Sun Dec 9, 2012, 12:21 PM
riverbendviewgal (3,551 posts)
1. i am thankful to live
In my country that negotiates the pharmaceuticals for the lowest drug prices. In America health care is for profit commodity not a human right. This is not a sign of a great country.
Response to riverbendviewgal (Reply #1)
Sun Dec 9, 2012, 12:35 PM
LancetChick (272 posts)
2. You are so right.
I get one type of insulin from a Canadian pharmacy for half what it costs in this country, despite the fact that it's MADE here, and I get another type of American-made insulin from Turkey. Imagine that. Insulin that is made here and sent to and processed in foreign lands far away for much less money than insulin which is sent directly to local pharmacies.