Two nonprofit groups released a report last week that calculated the cost to consumers of pay-for-delay deals that delayed the release of cheaper, generic versions of brand name drugs, estimating that cost to be $98 billion. Public interest and consumer advocacy groups MassPirg and Community Catalys released the report last Thursday. The report says consumers paid an average of 10 times more for the brand name drugs. The release, entitled “Top Twenty pay-For-Delay Drugs: How Drug Industry Payoffs delay Generics, Inflate Prices and Hurt Consumers,” found generic releases were delayed by an average of five years as consumers played inflated prices. The US Supreme Court ruled last month that the schemes can violate antitrust law and are anticompetitive in a case initiated by the Federal Trade Commission against brand name drug maker Actavis. Click the link below to read the full report.
Full Content: Masspirg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Prime Therapeutics Found in Violation of Antitrust Laws, Arbitrator Rules
Jan 23, 2025 by
CPI
Honda and Nissan Face Challenges in China Amid Potential Merger
Jan 23, 2025 by
CPI
Trump Criticizes EU’s Tech Crackdown, Calls It ‘A Form of Taxation’
Jan 23, 2025 by
CPI
Meta Faces Fresh Allegations of EU Law Breaches in Subscription Service Rollout
Jan 23, 2025 by
CPI
European Commission Investigates Crypto Rules for Cross-Border Stablecoins
Jan 23, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon