Washington, D.C. (June 25, 2009) — Pharmaceutical Research and Manufacturers of America (PhRMA) Senior Vice President Ken Johnson issued the following statement today regarding the Federal Trade Commission’s interim report on authorized generics:
“We agree with the Federal Trade Commission’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.
“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.
“Neither authorized generics nor patent settlements have discouraged the availability of generics to patients; it is worth noting that 72 percent of prescriptions in the United States are already for generics.
“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 – benefit patients by improving patient access and spurring the research and development that leads to the innovative new products of tomorrow.”
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $50.3 billion in 2008 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.2 billion in 2008.
PhRMA Internet Address: www.phrma.org
For information on how innovative medicines save lives, visit: www.innovation.org
For information on the Partnership for Prescription Assistance, visit: www.pparx.org
For more information on public health emergencies, visit: www.rxresponse.org