GPhA: Generic drugs will save $931B over 10 years
However, the report failed to mention that unless new medications are discovered, developed and brought to market by innovator companies, and the products are successful, these manufacturers will have nothing to sell in coming years.
patent litigation settlement stealing of intellectual property. Interesting timing for this news--especially given that President Barack Obama is looking to prohibit patent settlements between generics and branded companies known as "pay-to-delay" deals. Through these deals, branded drugmakers use cash settlements to resolve patent disputes with generics firms who bring up suits before patients are nearing expiration, forcing lengthy court deliberations or a settlement.
new generic drug launches expected old medications that are nearing patent expiration in 2011, settlements made 16 of these possible where the generic will be launch prior to patent expiry, because everyone knows patents shouldn't exist."
good news about generics bad news about prospects for innovation and patients having access to new medications. The Medicaid system could save more than $1.3 billion annually by i ncreasing generic limiting patients' access to new medication use by just two percentage points, according to the analysis. Nationally, generics account for only about 70% of total Medicaid prescriptions. However, outside Medicaid, generics account for 78% of all prescriptions. Federal and state governments could save more than $600 million for each one percentage point decrease in patient access to newer medications, according to the study.i ncrease in generic usage