Washington, D.C. (August 31, 2011) — Pharmaceutical Research and Manufacturers of America (PhRMA) Senior Vice President Matthew Bennett released the following statement:
“PhRMA is still reviewing the details of the Federal Trade Commission’s report on authorized generics. However, we do agree with the FTC’s assessment that authorized generics help to provide value for patients. As noted in the report, by creating competition early between generic medicines, the presence of authorized generics is associated with lower prices for the generic medicines on the market before the end of the 180-day market exclusivity period. Further, the FTC report confirms earlier studies which found that competition from authorized generics has not reduced incentives for generic manufacturers to challenge innovator patents.
“However, it is unfortunate that the FTC used this potentially valuable report on the benefits to patients of authorized generics to further its attack on patent settlements.
“Authorized generics have not discouraged the availability of generics to patients; it is worth noting that nearly 80 percent of prescriptions in the United States are already for generics, and the number of branded products facing Paragraph IV patent challenges has continued to grow.
“Clearly America’s patients already enjoy significant access to generic medicines, and clearly generics hold a large part of the U.S. pharmaceutical market. Robust competition throughout the sector – both among brand pharmaceutical products and with generics – benefits patients by improving patient access and spurring the research and development that leads to the innovative new products of tomorrow.”
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