Stories
Slash Boxes
Comments

SoylentNews is people

posted by LaminatorX on Sunday December 14 2014, @08:19AM   Printer-friendly
from the good-drugs dept.

Andrew Pollack reports at the NYT that a federal judge has blocked an attempt by the drug company Actavis to halt sales of an older form of its Alzheimer’s disease drug Namenda in favor of a newer version with a longer patent life after New York’s attorney general filed an antitrust lawsuit accusing the drug company of forcing patients to switch to the newer version of the widely used medicine to hinder competition from generic manufacturers. “Today’s decision prevents Actavis from pursuing its scheme to block competition and maintain its high drug prices,” says Eric Schneiderman, the New York attorney general. “Our lawsuit against Actavis sends a clear message: Drug companies cannot illegally prioritize profits over patients.” The case involves a practice called product hopping where brand name manufacturers (“product hoppers”) make a slight alteration to their prescription drug (PDF) and engage in marketing efforts to shift consumers from the old version to the new to insulate the drug company from generic competition for several years. For its part Actavis argued that an injunction would be “unprecedented and extraordinary” and would cause the company “great financial harm, including unnecessary manufacturing and marketing costs.” Namenda has been a big seller. In the last fiscal year, the drug generated $1.5 billion in sales. The drug costs about $300 a month.

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 0) by Anonymous Coward on Sunday December 14 2014, @03:19PM

    by Anonymous Coward on Sunday December 14 2014, @03:19PM (#125951)

    Also, most current business strategies revolve around patents, simply because businesses are going to take advantage of whatever they can. Get rid of patents and new (or old) business strategies would emerge. There is zero scientific evidence that patents are even effective at their goal (which is to help society).

    The problem is that freedom is what's most important. Patents infringe upon basic private property rights, so as a freedom-minded individual, I would completely oppose them even if they did help 'better' society.