FTC Will Subpoena 200 Drug Companies

The FTC plans to subpoena nearly 200 pharmaceutical companies for possible anticompetitive practices in the prescription drug industry.

So, waz happenin here?

Well, remember my blog about how Big Pharma will lose half their sales and plan on cheating by stopping generics?

Here's the next trick these companies use to ply their trade:

Brand-name pharmaceutical companies PAY generic drug manufacturers to stay off the market, trade officials said Monday.

Companies that sell brand-name drugs are entering patent challenge agreements with generic drug makers under which the generic companies receive compensation in exchange for agreeing to stay off the market.

This allows brand-name manufacturers to charge premium prices, and consumers, as always, are the losers.

An FTC analysis found at least seven such agreements so far in fiscal 2006, with three in 2005. Before that, no generic companies had been paid to drop their patent challenges for years.

A spokesman for the Pharmaceutical Research and Manufacturers of America declined to comment, according to AP.

Wonder why? They always like to comment!

A spokeswoman for the Generic Pharmaceutical Association said the group is reviewing the report.

Huh?

And so, the American Consumer is screwed again.

But not everyone agrees. "The American health-care system is the best in the world," says Dr. Henry McKinnell, CEO for Pfizer.

FTC Commissioner Jon Leibowitz stated that "when brand-name and generic companies agree to end their patent litigation, both generally benefit but the public suffers."

Oh, now I get it, the American health-care system IS the best in the world -- for drug manufacturers.
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