The big drug companies are under duress on almost every front. There are challenges everywhere from generics, from the FDA, from managed care and from self-appointed public watchdogs criticizing the industry, and with attacks on direct-to-consumer advertising,
Quotes about generics (10 Quotes)
We are very aware that many, many people are waiting for more generics to be approved and that there is frustration about the backlog.
The results of our 2004 program were so successful that we are extending it to a six-month period this year. Using generics when appropriate cuts members' out-of-pocket expenses, but it also helps hold down overall medical costs. Since prescription-drug costs are a key driver of rising medical costs, the long-term increased use of generics impacts future premiums to the benefit of our customers.
Since alliance management is one of the most important BDL functions, these teams can serve on the front line in the battle against generics. Managing successful alliances with generics firms help organizations that depend on development and deals to keep pipelines stocked and revenue flowing.
I don't think people have really modeled in the generics acquisitions yet. The generics acquisition isn't something that has been seen positively yet.
The Supreme Court only hears patent cases approximately 7 of the time. Therefore, the Supreme Court's rejection of the case was largely anticipated and the Appellate court decision remains in place. Merck has exhausted all avenues to regain U.S. exclusivity beyond February 2008, at which point generics are expected.
As additional generics come to market and the use of prescription drugs grows, the opportunity to lower health-care costs becomes even more significant. Best of all, using more generics simply requires better education and awareness of alternatives, not a big-dollar, up-front investment,
This is the right market to access for an Indian company. The market is saturated with branded generics. You can build from scratch, but that takes forever.
Setting realistic goals and having a well-thought-out plan is important. Generic competition in any given market is inevitable. Start your next- generation drug development early -- just after product launch -- and be ready to show patients that the benefits gained from the scientific advances of a next-generation drug outweigh the savings that come from switching to generics.
With all the price competition in generics, we're likely to see more consolidation.