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Seniors and the Medicare Part D program could save at least $23 billion through 2010 as key brand drugs face generic competition, according to an April 18 report by a pharmacy benefit manager (PBM) industry group.
The FTC’s pledge to challenge the constitutionality of brand name drug companies’ strategy of paying generic manufacturers to drop patent-infringement suits is likely to fail, PhRMA President Billy Tauzin told DID.
Price controls discourage the development of second-generation brand drugs, according to a report issued April 13 by the American Enterprise Institute-Brookings Joint Center.
Insurance company Aetna plans to waive copays for the next six months to encourage members to switch from certain brand proton pump inhibitors (PPIs) to a generic equivalent, the company said April 13.
For the sixth year in a row, the manufacturers of 193 brand-name prescription drugs widely used by mostly older Americans raised the price they charge wholesalers and other direct purchasers more than the general inflation, AARP said in a report released April 10.
Like its larger pharmaceutical brethren, the biotechnology sector is focusing on the creation of more personalized medicine — but biotech firms are also struggling with the question of who will pay for the diagnostics the new development model will demand.
The World Health Organization argues in a new report that drug companies should lower drug prices enough to guarantee poor and underdeveloped countries access to the drugs they need.
GlaxoSmithKline (GSK) said it would pay states $14 million to resolve allegations it illegally blocked generic entry to the market of its antidepressant Paxil, which caused state healthcare plans to pay higher prices for the drug.
Drug companies should lower drug prices enough to guarantee poor and underdeveloped countries access to the drugs they need, the World Health Organization (WHO) argues in a new report.