A lawsuit in Pennsylvania has brought into the spotlight a common and underhanded tactic drug companies use to control trade of their expensive brand-name medications.
Basically, major drug companies have been paying smaller generic manufacturers to delay their sales. When the generic companies accept the buyout, they agree to wait before releasing their generic brand to the market. Their decision prolongs the length of time before we the consumers can buy pharmaceuticals for a reasonable price.
In the meantime, we have to pay ballooned rates for drugs that monopolize the industry. Our insurance companies get stuck with larger bills and we’re caught with higher co-pays for as long as big pharmaceutical companies feel like making us wait.
The US Court of Appeals for the Third Circuit ruled on Monday that these payments control trade in an unreasonable way. But the appeals process may continue well into the future. Some people are talking about it going before the Supreme Court.
What does this say about the drug companies? In part, it verifies what we already know: the big pharma industry is concerned with bottom line results more than the impoverished people dependent on their medications.
Generic manufacturers prove that the most expensive brand-name drugs can be made for a lot less and be just as effective. But when big companies and their smaller generic counterparts exchange money to delay the cheaper versions, they purposefully limit our health options and strain our budgets.
Drug companies have managed to remove their competition for years through tactics like this. Without a variety of options, consumers have worse prices and, often, worse quality.
Based on this behavior, is it any surprise drug companies have often created dangerous products without a second thought? Our Memphis dangerous drug attorneys see this all they time: big pharma knowingly places health risks into its annual budget and even covers up its activities when caught doing wrong.
We help clients who have been injured by drug companies – and as you can imagine, such injuries happen all the time. Contact us today to discuss your case if you think dangerous drugs may have caused the problem.