5 ms·
As I understand it, only one company makes the generic right now. As others begin producing it market pressure will hopefully drive those costs down. It’s als
by tjohns 6y ago
As I understand it, only one company makes the generic right now.
As others begin producing it market pressure will hopefully drive those costs down.
It’s also worth noting that some insurance companies have recently begun classifying it as preventative medicine (as it should’ve been this whole time) and covering it at 100%.
- ceejayoz 6y ago> As others begin producing it market pressure will hopefully drive those costs down. That's the idea, but it doesn't really work that way. https://hbr.org/2017/04/how-pharma-companies-game-the-system-to-keep-drugs-expensive https://hbr.org/2017/04/how-pharma-companies-game-the-system... > One of the ways branded drug manufacturers prevent competition is simple: cash. In so-called “pay for delay” agreements, a brand drug company simply pays a generic company not to launch a version of a drug. The Federal Trade Commission estimates these pacts cost U.S. consumers and taxpayers $3.5 billion in higher drug costs each year. and this fun one... > Another way pharmaceutical firms are thwarting generics is by restricting access to samples for testing. Generic drug makers need to be able to purchase a sample of a brand-name product to conduct bioequivalence testing. That’s because they have to prove they can make a bioequivalent product following the current good manufacturing practices (CGMP) standard. These manufacturers don’t need to conduct clinical trials like the original drug company did. > But the original drug developer often declines to sell drug samples to generics manufacturers by citing “FDA requirements,” by which they mean the agency’s Risk Evaluation and Mitigation Strategies program. The idea behind this program is a good one: give access to patients who will benefit from these personalized medicines, and bar access for patients who won’t benefit and could be seriously harmed. However, brand drug makers are citing these requirements for the sole purpose of keeping generics from coming to market.
- refurb 6y agoBut since there is already a generic apparently this did not work?
- ceejayoz 6y agoSuccessfully limiting the number of generic competitors still helps quite a bit.
- refurb 6y agoThat's not how the system works. The first generic get 6 months of market exclusivity. The FDA won't approve any other until after the 6 months is up. And if one generic manufacturer was able to get approved, then the flood gates are open. It won't limit anything if all those additional patents were found invalid (which they would need to be for the 1st generic to be approved).
- trident5000 6y agoThats collusion and its supposed to be illegal. Maybe the US should enforce the laws it has or get more teeth in anti-trust cases by expanding the definition. https://www.investopedia.com/terms/c/collusion.asp https://www.investopedia.com/terms/c/collusion.asp
- taurath 6y agoPharma has leadership of both Dems and republicans. It’s one of the most underrated lobbying groups in the country