United States: In the latest move by the Biden administration to curb corporate tactics that drive up pharmaceutical prices, federal officials are contesting patents on 20 name-brand medications, including the popular weight-loss injectable Ozempic.
Warning Letters to Pharmaceutical Giants
Ten pharmaceutical companies received warning letters from the Federal Trade Commission on Tuesday about patent disputes with well-known medications for diabetes, asthma, weight reduction, and other related illnesses. According to the letters, Novo Nordisk, GSK, AstraZeneca, and seven other corporations have filed several patents that are false or deceptive.
Patents help name-brand pharmaceutical companies defend their products against less expensive generic alternatives. Numerous patents covering different components, manufacturing techniques, and intellectual property shield the majority of blockbuster medications. The only way for generic medication manufacturers to release their own less expensive versions is if the patents have run out or are successfully challenged in court.
FTC Chair Lina Khan said in a statement, “By filing bogus patent listings, pharma companies block competition and inflate the cost of prescription drugs, forcing Americans to pay sky-high prices for medicines they rely on.”
Impact on medicine Pricing and Access
Ozempic belongs to a class of specifics that were formerly created to treat diabetes, but their blessing to treat rotundity has led to an increase in conventions. The quantum Medicare spends on the specifics has also increased lately.
Novo Nordisk, the company that makes the medication, declined to comment.
The FTC’s most recent declaration comes after authorities challenged over 100 drugmakers’ patents, including those held by Abbvie, AstraZeneca, and Boehringer Ingelheim, in a similar action that took place in September.
Federal Trade Commission’s Enforcement
According to the FTC, companies who get the letters have 30 days to either alter or withdraw their patent listings or “certify under penalty of perjury” that they are authentic. The Food and Drug Administration, which examines and approves new medications, has the patents on file.
resident Joe Biden’s plan to lower medicine costs includes allowing Medicare to bargain with pharmaceutical companies and enabling states like Florida to purchase less expensive medications from abroad. This includes the patent challenges.
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