After nearly a decade of resisting, biotech companies want a law passed this year that lets generic drug companies sell cheaper copies of their medicines.
Biotechs have never had the competition from generics that makers of chemical-based drugs, like Pfizer and GlaxoSmithKline, face when their patents expire. The Food and Drug Administration lacks authority to approve generic biotech drugs, but several bills introduced in Congress during the past year would change that.
Biotech companies say they are ready for that change -- so much so that their main trade group is making the legislation a priority in 2008. And the Bush administration recently said it supports that aim.
The industry's shift comes as election-year politics are expected to shift Washington away from biotech's interests. Many political observers expect Democrats to gain more power in Congress this November, which could tilt favor to the generic drug industry. Faced with that possibility, the biotech industry wants an agreement as soon as possible.
This is an excerpt from an Associated Press / News & Observer (Raleigh, NC) article from February 15, 2008. Read the complete article.
1 comment:
This is sorely needed. My prescription for Avonex just went up from $100 copay for 3 months to $100 copay for 1 month. They didn't even tell me in time to up my Flex Benefits plan at work. How many other people are effected by this?
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