Keyword: genericdrugs

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  • What's behind the huge price jump for some generic drugs? [from $20 to $1,849]

    12/17/2014 7:48:23 PM PST · by grundle · 62 replies
    Los Angeles Times ^ | October 20, 2014 | David Lazarus
    They cited the example of the asthma drug albuterol sulfate. The average cost for a bottle of 100 pills was $11 last October, the pair said. The average charge by this April was up to $434. The antibiotic doxycycline hyclate cost $20 last October for a bottle of 500 tablets, the congressmen observed. By April, the price was $1,849. Experts say generics are growing more expensive because of reduced competition among manufacturers and shortages of raw materials. However, that might not explain triple-digit price hikes for some drugs. "Most generics are increasing in price by an average 10% a year,"...
  • Serious Price Increase for Generic Drugs

    11/22/2014 11:34:59 AM PST · by knak · 48 replies
    wall street otc ^ | 11/22/14 | thompson
    Although Generic Drugs have been considered a cheap alternative to brand drugs, the recent price increase has triggered a Senate investigation. Several low-price drug manufactures were questioned by members of the Congress in October, about the changes that have happened in the last 18 months, in terms of price. The Congress meeting happened as a result of several price complaints from long patients as well as pharmacists and physicians. Some of the low-cost generic drugs’ prices have risen with up to 8,000%. The huge increase was investigated at a Senate hearing, on Thursday. It was reported that three pharmaceutical companies...
  • How to get generic drugs even cheaper Rx prices can vary by $170 among retailers

    01/05/2014 9:39:36 AM PST · by RKBA Democrat · 29 replies
    Clark ^ | 8-19-13 | Clark Howard
    Generic drugs now account for well over 80% of all prescriptions. Just 10 years ago, less than half of drugs sold were generics. Much of the growth is because employers make generics extra-affordable through mail order programs (pharmacy benefits managers). Then you also have the grocery stores and big box retailers who do $4 generics. Meanwhile, a lot of breakthrough drugs that were patent protected are no longer so and are now selling as generics. But what you don't know about the pricing of generics can hurt your wallet. The big pharmacy chains discount generics 30% from the brand name...
  • U.S. justices block generic drug liability lawsuits (Supreme Court)

    07/09/2013 8:21:05 AM PDT · by opentalk · 17 replies
    Reuters ^ | June 24, 2013 | Lawrence Hurley and Bill Berkrot
    WASHINGTON/NEW YORK, June 24 (Reuters) - The U.S. Supreme Court ruled on Monday that generic drugmakers cannot be sued under state law for adverse reactions to their products, a decision that consumer advocates called a blow to patient safety. In a 5-4 vote, the court ruled for Mutual Pharmaceutical Co, owned by Sun Pharmaceutical Industries Ltd, overturning a multimillion-dollar jury award to a badly injured patient in New Hampshire who alleged a generic drug she had taken was unsafe based on its chemical design. The majority opinion, written by Justice Samuel Alito, said the state's law could not run against...
  • Switching To Generic HIV Drugs Could Save The U.S. Billions [BO will throw AIDS patients under bus]

    01/16/2013 3:01:42 AM PST · by SoFloFreeper · 10 replies
    Medical News Today ^ | 1/16/13 | Joseph Nordqvist
    The U.S health care system could save over $1 billion dollars a year if they replace current antiretroviral drugs for HIV infection with generic versions of the medications, a risky move that could seriously affect the efficacy of HIV treatment. The implications of such a change was explored in a study published in the January 15 edition of Annals of Internal Medicine.
  • High Court sides with generic drug makers in narrow ruling

    06/29/2011 10:32:53 AM PDT · by Halfmanhalfamazing · 3 replies
    Clinton News Network ^ | June 23rd | Bill Mears
    The court split along conservative-liberal lines. "It is beyond dispute that the federal statutes and regulations that apply to brand-name drug manufacturers are meaningfully different than those that apply to generic drug manufacturers," said Justice Clarence Thomas. "Indeed it is the special, and different, regulation of generic drugs that allowed the generic drug market to expand, bringing drugs more quickly and cheaply to the public." In dissent, Justice Sonia Sotomayor countered, "These divergent liability rules threaten to reduce consumer demand for generics... ... Thomas acknowledged that from the plaintiffs' perspective in the latest cases, "finding pre-emption here but not in...
  • Generic Drugs: ‘Made in India,’ Faked in China

    12/06/2010 7:01:50 AM PST · by SeekAndFind · 8 replies
    The American ^ | 12/06/2010 | Roger Bate and Tom Woods
    China is implicated in key fake-drug rings recently broken up across the Middle East and Latin America. Beijing must do more to clamp down on the entire fake industry, which flourishes within its borders. Chinese manufacturers are faking drugs, endangering patients' lives, and undermining legitimate brands, especially those from India. Indian companies provide vast amounts of generic drugs to mid-income and developing nations. By some estimates, 80 percent of HIV drugs for the developing world come from India, and probably half the antimalarials and antibiotics, too. Since Indian generics dominate many therapeutic categories of these markets, it is not surprising...
  • Generic drug plan focuses on wrong problem

    02/25/2010 7:28:52 AM PST · by John David Powell · 7 replies · 223+ views
    Townhall ^ | Feb. 25, 2010 | John David Powell
    The Obama Administration plan to put new generic drugs on the street faster is another example of how Washington healthcare reformers just don’t get it. While it is true that more generic drugs will reduce healthcare costs, it also is true that health risks will increases for many individuals sensitive to even the slightest changes in their medications. The Obama drug plan imposes $10 billion in fees over ten years on the brand-name pharmaceutical industry, to be parceled out among big drug makers to eliminate the so-called donut hole, or gap, in Medicare prescription drug coverage. The idea is to...
  • Patient Money: Not All Drugs Are the Same After All

    12/19/2009 8:12:12 PM PST · by neverdem · 20 replies · 976+ views
    NY Times ^ | December 19, 2009 | LESLEY ALDERMAN
    LET me start by saying I’m a fan of generic drugs. They save Americans billions of dollars each year and give us access to wonderful drugs at affordable prices. I’ve recommended generics in this column many times and use them myself when possible. But there is a gnawing concern among some doctors and researchers that certain prescription generic drugs may not work as well as their brand-name counterparts. The problem is not pervasive, but it’s something consumers should be aware of — especially now that more insurers insist that patients take generic medications when they are available. Let me also......
  • Telecoms Face Antitrust Threat

    07/07/2009 4:10:35 PM PDT · by GOP_Lady · 4 replies · 276+ views
    The Wall Street Jouornal ^ | 07-07-09 | AMOL SHARMA
    Wireless Market, Generic Drugs Reviewed as Justice Department Steps Up Enforcement The Department of Justice has begun looking into whether large U.S. telecommunications companies such as AT&T Inc. and Verizon Communications Inc. are abusing the market power they have amassed in recent years, according to people familiar with the matter. The review, while in its early stages, is an indication of the Obama administration's aggressive stance on antitrust enforcement. The Justice Department's antitrust chief, Christine Varney, has said she wants to reassert the government's role in policing monopolistic and anticompetitive practices by powerful companies.
  • Fear Factor Accompanies Generic Drugs Made In China

    06/24/2008 2:02:19 PM PDT · by Incorrigible · 22 replies · 282+ views
    Newhouse News ^ | 6/23/2008 | Robert Cohen
    Fear Factor Accompanies Generic Drugs Made In China By ROBERT COHENWASHINGTON — First, it was inexpensive toys, apparel, footwear and electronics that flooded the U.S. market from China. The next Chinese export to reach American consumers will be lower-cost generic versions of brand-name medicines. Although it will take at least several years before Chinese-made generics are available here in significant numbers, the prospect already is raising safety concerns, given China's history of substandard drugs at home, the recent scandal involving contaminated ingredients in the blood thinner heparin, and other safety problems, from tainted pet food to toothpaste. "We should be...
  • Helped by Generics, Inflation of Drug Costs Slows

    09/22/2007 1:07:09 AM PDT · by neverdem · 14 replies · 506+ views
    NY Times ^ | September 21, 2007 | STEPHANIE SAUL
    As overall health care costs continue to rise sharply, prescription drugs have emerged as a surprising exception. Annual inflation in drug costs is at the lowest rate in the three decades since the Labor Department began using its current method of tracking prescription prices. The rate over the last 12 months is 1 percent, according to the government’s latest data, released Wednesday. “The way the index is going, it looks like drug price increases are not going to be very painful this year,” said Daniel H. Ginsburg, a supervisory economist at the Bureau of Labor Statistics, where he is involved...
  • Cheap Generic Drug Production Stalls in China Due to Incomplete Gov System

    08/19/2007 6:23:25 AM PDT · by JACKRUSSELL · 1 replies · 223+ views
    INTERFAX-China ^ | August 17, 2007 | By Lizzy Li
    (Shanghai) - Government-appointed, low-cost generic drug makers are yet to start producing cheap drugs, partly because the system to ensure that such basic drugs continue to be produced is incomplete, an industry expert told Interfax today. In December last year, the Chinese government announced that it planned to establish a national essential drug system that would ensure that inexpensive and effective generic drugs would not disappear from the market due to low profit margins, and that local medical institutions would continue to have access to them. Through the system, the government would appoint several large drug makers to produce specific...
  • More Generics Slow Rise in Drug Prices

    08/08/2007 5:56:53 PM PDT · by neverdem · 12 replies · 572+ views
    NY Times ^ | August 8, 2007 | STEPHANIE SAUL
    A quiet coup is taking place in American medicine cabinets. Prescription bottles bearing catchy brand names like Zoloft and Flonase are being pushed aside by tongue-twisting generics like sertraline and fluticasone propionate. While the trend is already pinching the profits of big pharmaceutical companies, it is rare good medical news for American pocketbooks. The nation currently spends $275 billion a year on prescription medicines. But over the next five years, analysts forecast a golden era for generic drugs, as patents begin to expire on brand-name medications with more than $60 billion in combined annual sales. That will open the door...
  • Side Effects at the Pharmacy [Nine states order Wal Mart to raise the price of prescriptions]

    12/02/2006 10:47:22 AM PST · by grundle · 59 replies · 2,645+ views
    New York Times ^ | November 30, 2006 | MILT FREUDENHEIM
    Wal-Mart boasts that its new $4 generic drug program is disrupting the market, attracting new customers to its stores and starting the nation on a road that will ultimately squeeze billions of dollars from prescription drug spending. “I was never a customer of Wal-Mart,” said Frank Ganci, 74, a retired independent contractor who lives in Ridgefield, N.J. He has no drug insurance, despite being eligible for it under Medicare, because he considers the monthly premiums too high. Mr. Ganci said he recently paid $12 for a month’s supply of three generic drugs at the Wal-Mart in Secaucus — atenolol for...
  • Giant Eagle Latest To Offer Generic Drug Deals

    11/22/2006 12:23:24 AM PST · by mcg2000 · 5 replies · 693+ views
    WTAE Pittsburgh ^ | November 22, 2006 | Staff
    On Tuesday, Giant Eagle, Inc. announced their plan for a discounted generic prescription drug program in all of its Pennsylvania supermarket pharmacies. The offering, which will reduce the prices of more than 300 generic prescription medications, went into effect immediately. Giant Eagle's announcement came just one day after Target announced that it would expand its $4 generic prescription drug program.
  • Groups critical of India on patent laws

    03/21/2005 8:40:10 AM PST · by Vision Thing · 15 replies · 352+ views
    BusinessWeek ^ | March 21, 2005 | RAMOLA TALWAR BADAM
    Indian and international aid groups on Monday slammed a proposed overhaul of the country's patent laws, saying it would end production of cheap generic drugs and threaten the survival of cancer and AIDS patients in the developing world. India's government on Friday introduced legislation that would tighten patent laws to bring them in line with World Trade Organization rules. The bill will be debated in Parliament in the coming weeks to meet a WTO deadline of early 2005 for the changes. (snip) Critics say the proposed law will boost drug prices, and that foreign companies will take over the pharmaceutical...
  • Judge to rule on authorized generics

    08/30/2004 12:11:26 PM PDT · by Dubya · 1 replies · 240+ views
    The Associated Press ^ | Aug. 30, 2004 | The Associated Press
    CLARKSBURG, W.VA. -- Congress left "a gaping black hole" in federal prescription drug laws by apparently failing to anticipate the advent of so-called authorized generics, a development that a federal judge said could undermine fair competition in the marketplace. U.S. District Judge Irene Keeley will probably rule today in a dispute between the U.S. Food and Drug Administration and generic drug giant Mylan Laboratories that has major financial implications for generic drug producers. Generally, the first generic company to successfully challenge a brand-name patent enjoys 180 days of marketing exclusivity, meaning its product is the only generic sold during that...
  • France accuses U.S. of HIV drug 'blackmail'

    07/13/2004 9:01:19 AM PDT · by TexKat · 31 replies · 862+ views
    CNN ^ | 7/13/04
    BANGKOK, Thailand -- France accused the United States of "blackmail" tactics to pressure poor countries into ceding rights to make cheap generic HIV drugs, while the AIDS Conference issued a stirring call Monday to get more medicine to millions of needy in the developing world. "A vicious terrorist is out there. It is not Osama bin Laden, it is AIDS," Hollywood actor Richard Gere told the conference. "The biggest threat to our livelihood, our happiness is AIDS." A U.S. official denied the French allegation as "nonsense," while conference delegates lamented World Health Organization figures that show only about 7 percent...
  • The Real Obstacles [to Treating AIDS, Malaria and Tuberculosis in Developing Countries]

    05/17/2004 7:15:51 AM PDT · by ZGuy · 1 replies · 107+ views
    TCS ^ | 5/17/04 | James K. Glassman
    [The high cost of patented drugs in not the problem] Editor's note: What follows are remarks delivered by James K. Glassman at a recent conference at the American Enterprise Institute. Welcome to the American Enterprise and our conference on "The Real Obstacles to Treating AIDS, Malaria and Tuberculosis in Developing Countries." My name is Jim Glassman. I am a resident fellow here at AEI, host of the website The title of our conference suggests that the true obstacles to treating these pandemics, which kill millions each year, are not the obstacles -- or obstacle -- often portrayed in the...
  • Senate OKs Speedy Generic Drugs Plan

    06/19/2003 11:06:54 PM PDT · by JohnHuang2 · 111+ views
    Associated Press | Friday, June 20, 2003 | By LAURA MECKLER
    Senate OKs Speedy Generic Drugs Plan By LAURA MECKLER .c The Associated Press WASHINGTON (AP) - Senators overwhelmingly endorsed a plan to bring generic medicines to the market more quickly, while negotiations were under way over how much money Congress should set aside to entice private companies into Medicare. A 94-1 vote attached the generic drug measure to the Medicare prescription drug bill moving through Congress, where approval in the House and Senate was expected by the end of next week. ``This is a very good day for consumers,'' Sen. Charles Schumer, D-N.Y., said after the generic drug provision was...
  • Bush sets rules to bring generic drugs to market

    06/12/2003 7:36:40 AM PDT · by areafiftyone · 167+ views
    Reuters ^ | 6/12/03
    WASHINGTON, June 12 (Reuters) - U.S. President George W. Bush plans to announce regulations on Thursday aimed at bringing lower-cost generic drugs to market faster in a move that courts senior citizens, a key voting bloc in next year's presidential election. The final rules, initially proposed by Bush in October, seek to limit a drug patent holder's ability to draw out the process for bringing a generic drug to market though multiple challenges. Legislation approved by a U.S. Senate committee on Wednesday has similar goals: stopping unfair extensions of patents on brand-name drugs that delay competition from less-expensive copycat medicines....
  • Radio Address by the President to the Nation, 10-26-02

    10/26/2002 10:22:29 AM PDT · by Salvation · 21 replies · 319+ views
    The White House ^ | 10-26-02 | George W. Bush
    For Immediate ReleaseOffice of the Press SecretaryOctober 26, 2002 Radio Address by the President to the Nation      Audio THE PRESIDENT: America's health care system has advantages no other nation can match, but also challenges we cannot ignore. The quality of American medicine is excellent, yet too many Americans live in communities lacking good clinics and basic health care; others are forced to wait for new medical devices that are delayed in an overburdened approval process. And the high cost of prescription drugs is placing a heavy financial burden on many Americans, especially our seniors. This week, we are taking steps...
  • Interest Group Battles

    10/17/2002 6:28:43 AM PDT · by gophergop · 166+ views ^ | 10/15/02 | Doug Bandow
    Interest group battles WASHINGTON -- Public-spirited rhetoric usually masks intense interest-group combat on Capitol Hill. One example of that is going on now over pharmaceutical patents. In this battle, health insurers, which barely survived the Clinton administration's assault, are targeting research drug firms. The issue is complex. What is the right balance, for instance, between generating new products and cutting the price of old ones? What should be done with 30-month stays in patent infringement actions? Current law reflects a political compromise running back to 1984. In July, however, the Senate passed the McCain-Schumer Bill, weakening patent protection. The House...
  • Are Drug Makers Unethical, Or Are FDA Rules At Fault?

    05/13/2002 7:03:43 AM PDT · by purplegirl · 28 replies · 406+ views
    Investor's Business Daily ^ | Monday, May 13, 2002 | MERRILL MATTHEWS JR.
    Several recent news stories have raised concerns about two pharmaceutical manufacturers releasing new versions of two of the most popular prescription drugs in the country: Claritin and Prilosec. Schering-Plough's (SGP) best seller Claritin goes off patent at the end of this year. As a result, drug companies that produce generic drugs, which are copies of a brand-name drug but usually cost substantially less, can begin to sell their generic versions. Similarly, AstraZeneca (AZN) is replacing its blockbuster drug Prilosec with its new drug Nexium. Some medical professionals have criticized Schering-Plough and AstraZeneca for not proving in clinical trials that their...