Why Are Some Brand Name Drug Makers Paying Millions to Keep Generics Off The Market?
By: Source: AARP.org Date Posted: 2007-03-05 17:05:00-05:00
AARP advisor, Dr. Bill Thomas suggests in a recent interview with CNBC's "Business Nation" that the US pharmaceutical market has less competition than US consumers deserve. The system we're supposed to have here in America is a competitive free enterprise system where competition provides the best product at the lowest price. All patients, Dr. Thomas emphasizes, deserve access to the best medications—without breaking their banks. So, he, like thousands of other doctors, prescribes lower-cost generic drugs whenever possible.
The problem? There are allegations that brand-name prescription drug manufacturers make deals with generic drug manufacturers to keep generics off the market, thereby insuring that the brand-name companies can continue to charge top dollar for their drugs. The brand-name companies win, and the generic companies win, since they sometimes get tens of millions of dollars in cash. The only loser is the consumer.
David Faber investigates this story and its impact on you, the consumer. Watch CNBC on Thursday, March 8th at 10 pm / 1 am ET.
Click here for a preview of the March 8th edition of CNBC's "Business Nation."
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