Generic drugs are the pharmaceutical products mainly affected by the missile attacks disrupting shipping in the Red Sea. While the extra costs borne by drug companies aren’t causing an immediate spike in product prices, experts say they’ll eventually be factored into prices if the attacks become a long-term problem.
The Federal Trade Commission says more than 100 patents from 10 biopharma companies are improperly listed in the FDA’s official publication of approved products. Such listings delay generic competition, which reduces consumer choice and keeps prices high, the regulator said.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Generic drugmakers Teva and Glenmark recently became the sixth and seventh drugmakers to resolve criminal charges as a result of the DOJ’s yearslong investigation into generic drug price fixing. The settlement agreement requires both companies to pay hefty fines as well as divest their drug lines for pravastatin, a widely used statin that lowers cholesterol.
The restructuring of cardiovascular drugmaker Amarin means the layoff of about 30% of staff. Sales of Vascepa, the company’s only commercialized product, have suffered as generic versions gain traction in the market.
CVS Caremark and GoodRx created a new program called Caremark Cost Saver, which will become available starting January 1, 2024. Through the program, eligible CVS Caremark commercially insured members will have access to GoodRx’s prescription pricing on generic medications.
In acquiring Mayne Pharma’s U.S. portfolio, Dr. Reddy’s gains a birth control pill whose rapid sales growth is attributed to a direct-to-consumer marketing strategy. The deal also includes pipeline products and approved products that are not yet on the market.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Amazon's RxPass offers more than 50 generic drugs for more than 80 common conditions at the flat fee of $5 a month for Prime members. While one expert says its a significant move by Amazon, another said more needs to be done.
The charges, filed in Philadelphia federal court, allege that Teva conspired with four other generic drug companies to fix prices, rig bids and allocate customers. Teva - which the Justice Department and New York's state government also sued this month for unrelated allegations - said it rejected the allegations.
A federal appeals court upheld two key patents covering Amgen's Enbrel, thus further preventing Novartis' generics unit from launching its biosimilar. However, an analyst wrote that the probability of Sandoz overturning the decision is low.
The suit, filed Wednesday in federal court by more than four dozen attorneys general, accuses 26 generic drug companies and 10 executives of keeping prices artificially high for the drugs. It is the third in a series of antitrust lawsuits targeting the industry.
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An analyst wrote that a best-case scenario for Amarin is that it may take 2-3 years for generic versions of Vascepa to hit the market. But the company has likely lost its luster as an acquisition target.
According to a report, drugmakers are expected to lose $17 billion in worldwide sales due to patent expirations this year. Two reports list 18 drugs as losing patent protection or exclusivity, though not all drugs listed here will necessarily face generic or biosimilar competition in 2020.
The Blue Cross Blue Shield Association and several of its licensed insurance companies created a new subsidiary of nonprofit Civica Rx. The goal is to reduce the cost of generics by developing them.
The new firm, currently known only as "NewCo," will be rebranded at the deal's close. In connection with the agreement, Mylan's CEO since 2012, Heather Bresch, plans to retire from her position.
Generics industry trade group the Association for Accessible Medicines anticipates that the CREATES Act could see action in Congress next year amid bipartisan support for tackling drug costs.