Generic Pharmaceutical Companies Feel Slighted, Launch Campaign
The Campaign for Fair Pharmaceutical Competition claims that some brand name drug companies are unfairly barring access to generic alternatives.
In an effort to enlighten the public about what it perceives as unethical business practices on the part of brand name drug companies, Mylan Laboratories, Inc., a prominent manufacturer of generic pharmaceuticals, recently launched the "Campaign for Fair Pharmaceutical Competition." Among their concerns is the perception that brand name companies use loopholes in the law to block consumer access to equivalent, more affordable generic pharmaceuticals.
As part of the launch, Mylan released a University of Quebec study that concludes brand name drug companies are cash-rich and do not need patent extensions to fund research and development programs.
The loopholes that the campaign wishes to close are those that were created by the Hatch-Waxman Act, the U.S. law that governs competition in the pharmaceutical marketplace. To achieve this end, The Campaign for Fair Pharmaceutical Competition will provide educational material to consumers and help them ask their U.S. Senators and Representatives. "We're not against fair patent protection and fair compensation for brand name drug companies," stated Milan Puskar, chairman and CEO of Mylan. "What we are against is their manipulation of U.S. law to unfairly extend patents, prevent competition, and block consumer access to more affordable medicine."
As an example of the brand name companies' malfeasance, the campaign points out that Premarin, an estrogen replacement treatment, costs 1/3 more in the U.S. than in Canada, where generic alternatives are available.
Generics contain the same active ingredients and deliver the same therapeutic results as their brand name counterparts, but cost on average 50% less. Brand name companies can earn up to $1 million in additional profits each day generic competition is delayed. As a result, they take extraordinary measures to keep generics off the market.
For more information: Larry Richardson, The Campaign for Fair Pharmaceutical Competition. Tel: 202-966-0440.