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Generic Competition

All articles tagged with #generic competition

healthcare2 years ago

FTC Takes on Drugmakers' Improper Patent Listings, Including Asthma Inhalers

The U.S. Federal Trade Commission (FTC) has sent letters to several medical device companies and drugmakers, including AbbVie, AstraZeneca, and Teva, disputing the accuracy or relevance of 110 patents listed in the FDA's Orange Book. Many of these patents pertain to devices such as asthma inhalers and epinephrine autoinjectors. The FTC argues that wrongfully listed patents can raise drug prices, harm fair competition, and delay the availability of lower-priced generics. Teva, Boehringer Ingelheim, GSK, and Mylan (now part of Viatris) are among the companies that received letters challenging the patents related to their inhalers and EpiPens. The FTC has warned that drugmakers could face legal action for improperly listing patents with federal health regulators.

business2 years ago

Bristol Myers Squibb Beats Estimates Despite Generic Competition

Bristol Myers Squibb reported quarterly earnings that exceeded expectations, despite a decline in sales of its top-selling drug Revlimid due to generic competition. The company's revenue for the third quarter was $10.96 billion, down 2% from the same period last year. Bristol Myers has been under pressure to launch or acquire new drug products as its top-selling treatments face competition from cheaper generics. While Revlimid sales fell 41%, other drugs like Eliquis and Opdivo saw modest growth. The company narrowed its full-year earnings outlook and reiterated its revenue guidance. Bristol Myers will also discuss its plan to acquire cancer drugmaker Mirati Therapeutics during an earnings call with investors.

business2 years ago

FTC Cracks Down on Illegal Patent Tactics by Drug Companies

The Federal Trade Commission (FTC) has issued a policy statement warning pharmaceutical companies about a patenting strategy that may be illegal and has contributed to high prices for inhalers. The strategy involves listing patents on inhalers in the federal registry known as the Orange Book, even if they are not directly related to the medication being delivered. This tactic deters generic competition and delays the availability of lower-priced alternatives. The FTC intends to scrutinize companies engaging in this practice, which could help accelerate the availability of affordable generic inhalers in the future.