Barr Pharmaceuticals is lobbying for a US law that would enable the sale of copied medicines made by the biotech business. Barr is dispatching almost a dozen representatives along with many other generic drug lobbyists, to attempt to pass their law through each Congress and the Residence of Represenatives.
Other biotech corporations such as Amgen and Genetech Inc. stand firmly in opposition of the new law. coatomer contest that creating copies of the hugely complex gene based medication pose a larger overall health risk than copying the tradition treatments.
According to a report on Bloomberg.com, “the outcome of the fight will identify no matter whether generic makers, like Barr and Israel-primarily based Teva Pharmaceutical Industries Ltd., can sell competing versions of biotech medications when they drop patent protection. Generic biotech drugs could decrease costs by 33 %, analysts say.”
Supporters of Barr Pharmaceuticals contend that allowing copies could save the biotech business more than 14 billion dollars in the subsequent ten years. At the moment, the biotech business accounts for 32.eight billion of the 251.eight billion dollars of prescription drug sales to US pharmacies in 2005.
Bloomberg.com also states, “Several biotech medicines carry higher price tags, and generic versions are likely to reduced rates by 20 percent to 30 %, Elise Wang, an analyst with Citigroup Inc. in New York, said in an interview. 1 of the most expensive biotech medicines is Genzyme Corp.’s Cerezyme, a therapy for a rare enzyme disorder that can expense $200,000 a year.”
