TheNocturnalEgyptian
2nd March 2011, 02:41 PM
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Rockefeller Fights for Consumer’ Access to Lower-Priced Prescription Drugs:Morgantown’s Mylan Pharmaceuticals Would Benefit From Legislation to Prohibit Brand Name Drug Companies from Introducing “Authorized Generics”
Washington, D.C. – In an effort to fight unfair practices by brand name drug manufacturers and provide West Virginia consumers ongoing access to lower-priced generic drugs, Senator Jay Rockefeller (D-WV) has introduced legislation to end the use of so-called “authorized generics” during the 180-day period that Congress intended for true generic market exclusivity. Recent news reports have detailed how many brand name pharmaceutical companies game the system. The legislation introduced by Rockefeller, S. 3695, would provide real competition between generic companies that produce low-cost medicines, such as Morgantown’s Mylan Pharmaceuticals, and the pharmaceutical giants.
“Authorized generics are a sham,” said Rockefeller. “They are nothing more than repackaged prescription drugs without the benefit of a true generic’s lower cost. This practice undermines congressional intent and harms consumers in West Virginia and elsewhere by preventing generic competition and eliminating billions of dollars in prescription drug savings over the long-term.
“Mylan has done great work in upholding the law,” Rockefeller said. “Authorized generics should not be allowed during the 180-day period Congress intended for a true generic manufacturer to have exclusive market rights. That is why I have introduced legislation to prohibit the introduction of these brand name drugs-in-disguise.”
In 1984, Congress passed the Hatch-Waxman legislation to provide consumers greater access to lower-cost generic drugs. The intent of this law was to improve generic competition, while preserving the ability of brand name manufacturers to discover and market new and innovative products. As part of this law, the first generic company on the market after challenging an expiring brand name patent is granted 180 days of exclusive market rights, which is just a fraction of the up to 20 years of exclusive market rights given to brand companies.
The issues of “authorized generics” has taken on even greater importance this year as the patents for blockbuster drugs such as Pravachol, Zocor, and Zoloft have expired or will expire.
http://kinchendavid.wordpress.com/2006/07/20/rockefeller-fights-for-consumer-access-to-lower-priced-prescription-drugsmorgantown’s-mylan-pharmaceuticals-would-benefit-from-legislation-to-prohibit-brand-name-drug-companies-from-introducin/
http://i.imgur.com/5ileV.jpg
http://i.imgur.com/TGzil.jpg
Rockefeller Fights for Consumer’ Access to Lower-Priced Prescription Drugs:Morgantown’s Mylan Pharmaceuticals Would Benefit From Legislation to Prohibit Brand Name Drug Companies from Introducing “Authorized Generics”
Washington, D.C. – In an effort to fight unfair practices by brand name drug manufacturers and provide West Virginia consumers ongoing access to lower-priced generic drugs, Senator Jay Rockefeller (D-WV) has introduced legislation to end the use of so-called “authorized generics” during the 180-day period that Congress intended for true generic market exclusivity. Recent news reports have detailed how many brand name pharmaceutical companies game the system. The legislation introduced by Rockefeller, S. 3695, would provide real competition between generic companies that produce low-cost medicines, such as Morgantown’s Mylan Pharmaceuticals, and the pharmaceutical giants.
“Authorized generics are a sham,” said Rockefeller. “They are nothing more than repackaged prescription drugs without the benefit of a true generic’s lower cost. This practice undermines congressional intent and harms consumers in West Virginia and elsewhere by preventing generic competition and eliminating billions of dollars in prescription drug savings over the long-term.
“Mylan has done great work in upholding the law,” Rockefeller said. “Authorized generics should not be allowed during the 180-day period Congress intended for a true generic manufacturer to have exclusive market rights. That is why I have introduced legislation to prohibit the introduction of these brand name drugs-in-disguise.”
In 1984, Congress passed the Hatch-Waxman legislation to provide consumers greater access to lower-cost generic drugs. The intent of this law was to improve generic competition, while preserving the ability of brand name manufacturers to discover and market new and innovative products. As part of this law, the first generic company on the market after challenging an expiring brand name patent is granted 180 days of exclusive market rights, which is just a fraction of the up to 20 years of exclusive market rights given to brand companies.
The issues of “authorized generics” has taken on even greater importance this year as the patents for blockbuster drugs such as Pravachol, Zocor, and Zoloft have expired or will expire.
http://kinchendavid.wordpress.com/2006/07/20/rockefeller-fights-for-consumer-access-to-lower-priced-prescription-drugsmorgantown’s-mylan-pharmaceuticals-would-benefit-from-legislation-to-prohibit-brand-name-drug-companies-from-introducin/