A new EU report accuses drug makers of keeping prices for medication high by thwarting less expensive generic products from coming to market. In the US, far more generic drugs are sold than in Europe. Drug companies are blocking or delaying the entry of cheaper generic medicines from coming to the market, according to an EU report released on Friday, Nov. 28. "The Commission will not hesitate to open anti-trust cases against companies where there are indications that the anti-trust rules may have been breached," said Neelie Kroes, the 27-nation bloc's competition commissioner. The report examined a sampling of medication from 17 European Union member states in which the patents have expired and estimated that the delays involved in getting generic versions of those brand names on the market had cost health care providers around three billion euros ($3.9 billion) between 2000 and 2007. The results of the sample probe prompted Kroes to comment that competition in the pharmaceutical industry was not functioning as well as it should.
Drug companies are blocking or delaying the entry of cheaper generic medicines from coming to the market, according to an EU report released on Friday, Nov. 28.
"The Commission will not hesitate to open anti-trust cases against companies where there are indications that the anti-trust rules may have been breached," said Neelie Kroes, the 27-nation bloc's competition commissioner.
The report examined a sampling of medication from 17 European Union member states in which the patents have expired and estimated that the delays involved in getting generic versions of those brand names on the market had cost health care providers around three billion euros ($3.9 billion) between 2000 and 2007.
The results of the sample probe prompted Kroes to comment that competition in the pharmaceutical industry was not functioning as well as it should.
Drug companies are blocking or delaying the entry of cheaper generic medicines into the EU, pushing up medicine bills, the European Commission has said. Their actions cost EU healthcare providers 3bn euros ($3.9bn; £2.5bn) in savings between 2000 and 2007, it said. It added that drug firms used legal action and multiple patents to stop rivals getting to market. Drug firms said the "perfectly lawful" measures were justified to protect investment in research and development.
Drug companies are blocking or delaying the entry of cheaper generic medicines into the EU, pushing up medicine bills, the European Commission has said.
Their actions cost EU healthcare providers 3bn euros ($3.9bn; £2.5bn) in savings between 2000 and 2007, it said.
It added that drug firms used legal action and multiple patents to stop rivals getting to market.
Drug firms said the "perfectly lawful" measures were justified to protect investment in research and development.
had cost health care providers around three billion euros ($3.9 billion) between 2000 and 2007.
BigPharma is only here for our benefit.
We have always been at war with EastHolistia. Never underestimate their intelligence, always underestimate their knowledge.
Frank Delaney ~ Ireland
