Friday, October 28, 2011

FTC to Super Committee: Ban Pay-for-Delay Deals

WASHINGTON -- The Federal Trade Commission (FTC) is calling on the Congressional super committee to ban "pay-for-delay" deals between brand-name and generic drug companies as a way to bring down the federal deficit.

"Collusive deals to keep generics off the market are already costing consumers and taxpayers $3.5 billion a year in higher drug prices," said FTC Chairman Jon Leibowitz in a press release issued Tuesday. "The increasing number of these deals is a win-win proposition for the pharmaceutical industry, but a lose-lose for everyone else."

Posted via email from Jack's posterous

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