Arab Today, arab today supreme court to take drug pricing case
Last Updated : GMT 14:16:36
Arab Today, arab today
Arab Today, arab today

Supreme Court to take drug pricing case

Arab Today, arab today

Arab Today, arab today Supreme Court to take drug pricing case

Washington - UPI

The US Supreme Court said it will rule in a case involving payments by pharmaceutical companies to rivals in return for delaying sales of generic drugs. The Federal Trade Commission says the so-called pay-for-delay deals violate antitrust law, preserve monopolies and artificially jack up prices, the Los Angeles Times said Saturday. The commission said 28 such agreements cost consumers and taxpayers at least $3.5 billion in 2011, the newspaper reported. \"When drug companies agree not to compete, consumers lose,\" FTC Chairman Jon Leibowitz said. Federal courts have upheld such deals in a number of cases, finding they constitute settlements of patent disputes. The Supreme Court said Friday it would consider a case involving an agreement in which Solvay Pharmaceuticals Inc., which makes the testosterone booster AndroGel, agreed to pay Watson Pharmaceuticals Inc. more than $19 million a year in return for Watson\'s agreement to hold a competitive drug off the market until 2015.

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