Yesterday, the Supreme Court ruled that Pharmaceutical companies could no longer pay generic drug manufacturers to keep their more affordable drugs off the market. With the 5 to 3 voting of the Court, the Federal Trade Commission can now sue companies for anti-trust violations when this happens.
According to the New York Times, this will now open up the market and provide more affordable medication to the public. In 2011, there was $320 billion spent on medication. Of this, 18% of the prescriptions were brand names and accounted for 73% of all consumer spending. Troublesome for the Pharma companies, as once generics enter the market they see 90% of the market share go to those medications instead of their own brand named medications.
What are the major implications you see this ruling having on the Pharma industry?
The Partnerships in Clinical Trials Blog focuses on optimization intelligence, regulatory trends and globalization strategies for both sponsors and CROs. It is supported by a number of industry events.
Would you like to guest blog on our site? Or send us feedback? Send an email to firstname.lastname@example.org.