Navigation Links
Federal Trade Commission Reports: Authorized Generics, During the 180-day Exclusivity Period, Benefit Consumers and the American Healthcare System
Date:6/25/2009

- 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:

  • "...[C]onsumers benefit and the healthcare system saves money during the 180-day exclusivity period when an AG enters the market..." FTC report Authorized Generics: An Interim Report - June 2009; pg. 2

  • "...[C]onsumer harm arises from the absence of AG competition against an ANDA generic, not from the presence of AG competition against an ANDA generic." FTC report Authorized Generics: An Interim Report - June 2009; pg. 4

  • "I concur in the bottom-line conclusion of the Commission's Interim Report that the Report cannot properly be read to support a legislative ban on the marketing of Authorized Generics (AGs) during the 180-day exclusivity period (or otherwise) or to suggest that AGs are harmful to consumers." Concurring statement of FTC Commissioner J. Thomas Rosch

"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.

About Prasco

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.

websites: www.prasco.com; www.authorizedgenerics.com


'/>"/>
SOURCE Prasco
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. MDMA Names New Director of Federal Affairs
2. Federal research plan to determine nanotech risks fails to deliver
3. Federal Employee Program Maintains Low Health Premiums In 2008
4. AMERIGROUP Contracts with Federal Government to Offer Medicare Advantage Health Plans in Seven States
5. SNM applauds NAS study showing need to restore federal nuclear medicine research funding
6. ACM Helps Medicaid Programs Comply With Federal Deficit Reduction Act Mandates
7. Boise(R) BEWARE(TM) Meets New Federal Guidelines Set Forth by Medicaid
8. HIV/AIDS Cases Among State and Federal Prison Inmates Fell for the Sixth Straight Year During 2005
9. Bristol-Myers Squibb Finalizes Settlement of Previously Disclosed Federal Investigation into Pricing, Sales and Marketing Practices
10. Federal Trade Commission Attempts To Suppress Best-Selling Authors First Amendment Rights
11. CPF Urges Congress to Increase Funding for IPF Research in 2009 Federal Budget
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... ... February 05, 2016 , ... ... the 2015 Best in KLAS: Software & Services for HIT Implementation Support & ... KLAS report independently ranks vendor performance by healthcare executives, managers and clinicians representing ...
(Date:2/5/2016)... ... February 05, 2016 , ... Dr. Justin Scott and Dr. Lydia ... No Cost Dental Day to individuals in need. The event is scheduled to take ... Cost Dental Day is to provide dental care to community members in need. Each ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... announces that it is now welcoming orthodontist, Dr. Amanda Cheng, to the ... complete range of oral health care, including general dentistry, cosmetic treatments, periodontics, ...
(Date:2/5/2016)... ... 05, 2016 , ... In sleep, when the defenses of the day are ... of patients with eating disorders is significant self-criticism, and consequently these patients experience this ... regarded as maladaptive means for coping with this unease, but also leads to a ...
(Date:2/5/2016)... ... February 05, 2016 , ... California Mobile Kitchens ... debut of their latest mobile kitchen model, featuring customizable stainless steel interiors and ... commercial kitchens for use anywhere in the U.S. Many of their units can ...
Breaking Medicine News(10 mins):
(Date:2/5/2016)... 2016 --> ... "Fetal (Labor & Delivery) and Neonatal Care Equipment Market ... Oximeter, Phototherapy/Jaundice Management Devices, CPAP, Capnograph, & Resuscitator) - ... studies the global market over the forecast period of ... 6.28 Billion in 2015 and is poised to grow ...
(Date:2/5/2016)... , Feb. 5, 2016 ... of the "Global Obstetrics Partnering 2010-2016: ... profile to their offering. --> ... the "Global Obstetrics Partnering 2010-2016: Deal ... to their offering. --> Research ...
(Date:2/4/2016)... , Feb. 4, 2016 Worldwide Radiology ... significant growth as next generation systems provide a ... radiology for cancer surgery. New systems pinpoint the ... that has been such a problem previously, limiting ... Radiosurgery robots take cancer surgery far beyond what ...
Breaking Medicine Technology: