|House panel supports 12-year exclusivity for biotech drugs|
|By Jude Santos & Wire Reports|
|Monday, 03 August 2009 11:16|
Mr. Obama and some Democrats, including the energy committee chairman, Rep. Henry Waxman, D-Calif., have pushed for getting generic versions of complex biologic drugs to the market in five to seven years, saying it would speed up access for consumers to cheaper generic brands and help reduce the country's health-care costs.
The longer sales monopoly was supported by brand-name pharmaceutical companies, as well as many fiscally conservative Democrats, who have been demanding more cost savings in the $1 trillion health-care bill. More on this story in a report in this weekend's Wall Street Journal.
A U.S. House of Representatives committee voted on Friday to ban deals in which drug companies pay generic firms to delay bringing out a cheaper, copycat version of a drug.
The House Energy and Commerce Committee, by a voice vote, approved a bill to prohibit branded drug companies from compensating generic drug firms to delay entry.
Rep. Bobby Rush, the Illinois Democrat who introduced the amendment, said it would curb "these eyebrow raising settlements."The FTC, which says the deals cost Americans $3.5 billion per year, has challenged them in court but with mixed success.
The first known "pay for delay" was in 1994 when Bristol-Myers Squibb Co paid $290 million to Schein Pharmaceutical to delay the sale of a generic version of Bristol's anxiety drug Buspar.
In Brussels, EU Competition Commissioner Neelie Kroes said this month that she was determined to oppose such settlements, which she said had pushed up European consumers' bills by 20 percent between 2000 and 2007.