The Food and Drug Administration has given the go ahead to seven companies to begin producing Plavix in generic form. As someone who has to shell out over $100 for about 10 pills to quarter and force an unwilling, yet sick cat, to take, I am pretty darn excited about this whole situation.
Get it while you can, big drug companies! Pharmaceutical giants like Pfizer Inc, AstraZeneca and Bristol Meyers Squibb are feeling a little panicky as the deadlines loom on patents for some of their best-selling drugs, so what do they do? Up the prices now, before those pesky generic versions arrive to drive consumer costs down.
A Bristol Meyers Squibb executive was indicted for making a secret deal with a Canadian drug manufacturer that they wouldn’t make a generic version of Apotex, a competing drug to Plavix, if the Canucks didn’t make a generic version of Plavix. Under federal law, such anti-competitive agreements need to be submitted to the FTC. [NYT]