Today , the Federal Trade Commission charge a cause against a drug company called Endo who ’s criminate of paying generic drug manufacturers hundred of trillion of dollars to delay therelease of generic drugs . It ’s call “ give - for - holdup , ” and it ’s just another way that Americans are getting fucked over by the health care industry .
Endo makes the firebrand name pain in the ass relief drugs Opana ER and Lidoderm , which are prescribed for people with severe pain . The patent of invention on those drug expired in2010 , but Endo allegedly paid hundreds of millions to generic drug makers so that cheaper versions would n’t be available until 2013 . As the FTC take down in its ailment , generic drugs in the United States be about 75 pct less than firebrand name drugs on mean . The use of generic drugs reportedly saves the US healthcare system approximately $ 254 billion per year .
In 2009 , Endo was do about $ 1 billion a year on the two drug , which comprised 64 percentage of its revenue . The accurate amount of money that Endo paid to delay the discharge of the generics is redact from theofficial charge , but it was allegedly hundreds of millions of dollars .
“ Endo knew that generic rivalry would decimate its sales of the corresponding branded product and that any wait in generic contender would be highly profitable for Endo , but very costly for consumers , ” the FTC complaint say .
Endo exact that it did n’t do anything illegal which will , of line , be a thing for the courts to settle .
“ Endo is disappointed by the FTC ’s decision to initiate litigation , ” Endo said in a statement release to theWall Street Journal . “ Because the settlements complied with all applicable jurisprudence , we believe the FTC ’s example is without merit , and Endo specify to smartly oppose itself in the litigation . ”
In the past decade , companies produce drug like Adderall , Lipitor , Wellbutrin , and Effexor have all been accused of earnings - for - holdup scheme . The delay has go along some generic off the market for as farseeing asnine long time . The generic manufacturer identify in the complaint have yet to speak the allegement involving Endo .
[ Wall Street Journal ]
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