- Authorized Generics Benefit Consumers and Save the American Healthcare System Money
CINCINNATI, June 25 /PRNewswire/ -- Prasco Laboratories, a Mason-based independent authorized generic company, applauds the Federal Trade Commission (FTC) for issuing their interim report on the short and long-term effects of authorized generics on competition in the prescription drug marketplace.
Prasco commends the FTC in its approach. "This Interim Report is the result of a long and arduous process in response to a 2005 request by Senators Leahy, Grassley, and Rockefeller to review the impact of the practice of authorized generics on competition during the 180-day exclusivity period," stated E. Thomas Arington, Chairman and CEO of Prasco. "The Commission's analysis supports the pro-consumer impact of the increased competition that authorized generics bring to the generic drug industry, and the resulting savings to the American consumer," stated Arington.
According to the Interim Report, the FTC found that:
"In 1984, Congress enacted The Drug Price Competition and Patent Term Restoration Act, commonly known as Hatch-Waxman, to encourage the development of the generics industry in order to help consumers receive lower prices on prescription drugs. The practice of authorized generics embodies the spirit in which Hatch-Waxman was created: to bring Americans, high quality low-priced pharmaceuticals. We are pleased with the FTC's conclusion, in support of making pharmaceuticals more cost-effective for American consumers," Arington concluded.
Prasco is the authorized generics company, whose mission is to provide both quality products and significant cost-savings to the consumer. Prasco's goal is to provide patients with the Brand-Identical experience through Prasco Authorized Generics. To find out more about Prasco Authorized Generics, visit www.prasco.com or www.authorizedgenerics.com.
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