Savings Projected From ‘Emerging’ Generic Drugs
But the Federal Trade Commission found an "unprecedented" increase in drug industry deals to delay the availability of these cheaper drugs.
Chicago Tribune: Big Savings Coming From Emerging Generic Drugs, Patent Expirations
Americans will see cheaper copies of some of the biggest drug names starting this fall. Out-of-pocket costs of the generic form of Lipitor, a widely used and advertised cholesterol drug that loses its patent protection in November, will be reduced to as little as $4 for a month's supply. Even for a person with health insurance, Lipitor can cost $25 to $40 - or more - each month. In the next two years, six of the nation's 10 best-selling drugs are expected to be available in generic form (Japsen, 5/4).
Fox News: Pay for Delay: U.S. Says Drugmakers Block Cheaper Generic Rivals
The Federal Trade Commission has found an "unprecedented" 60 percent jump in drug industry "pay for delay" deals that stall consumers' access to cheaper generic drugs, hurting consumers' and taxpayers' wallets. The report could lay the groundwork for even more antitrust, anti-monopoly actions the government has increasingly been bringing against Big Pharma. Drug companies "struck an unprecedented number of deals" in fiscal 2010, where drug makers of brand name pharmaceuticals paid "potential generic rivals and generic companies to defer the introduction of lower-cost medicines for American consumers," the FTC said in a statement (MacDonald, 5/4).