What was interesting was to hear how they do ok in the US
, and why shouldn’t drug companies as we pay more here and somewhat subsidize others, but he stated in their own home country of Germany that the generic competition was becoming a much issue there. It’s a bit of a catch 22 as many can’t afford the more expensive drugs who need them and then the corporation says they need the money for R and D, so I guess we go back to the NIH for more funding again. Even big corporations are not so much worried about credit ratings being at the absolute top and I guess with plenty of cash the company doesn’t have to worry.
India Authorizes Local Drug Manufacturer to Make and Sell Generic Copy of Patented Bayer Cancer Drug To Make It Affordable
India’s Public Doctors Will Soon Be Able to Prescribe “Free” Generic Drugs–Up To Half of the Population To Benefit–Big Pharma Could Be Seeing Less Business In the Future With Brand Names
Above are a couple examples of what is happening in India with generic drugs and it wouldn’t be too much of a surprise to see other countries doing something of the same. BD
(Reuters) - Pressure from governments to lower drug prices risks undermining medical innovation, Bayer AG's chief executive said on Wednesday, echoing complaints of other drug company executives.
Speaking at the Boston College Chief Executives' Club, Marijn Dekkers said there was "tremendous pressure" on drug makers to lower prices.
"The danger of pushing the prices of prescription drugs down, down, down is that at some point the business model of developing these drugs will lose its attractiveness," he said.
Drug companies are also facing increasing pressure from generic competition as they lose patent protection on some of their biggest selling products.
On Monday, Bayer said an Indian patents appeals board rejected its petition to block the entry of a generic version of its cancer drug Nexavar.
http://www.reuters.com/article/2012/09/19/us-bayer-dekkers-idUSBRE88I1HR20120919?feedType=RSS&feedName=healthNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+reuters/healthNews+%28Reuters+Health+News%29&utm_content=Google+Reader
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