The Supreme Court ruled Monday that brand-name drug makers can be sued for violating the antitrust laws if they make a deal that pays a potential competitor to put off selling a generic version.
The 5-3 decision is likely to benefit consumers with lower prices. The Federal Trade Commission, which has pursued suits against the drug makers, estimated these so-called “pay for delay” deals cost consumers and health plans $3.5 billion a year.
This is the kind of story that separates my true fans from the pretenders my friends, as those who worship my words knew all about this scam long ago. For the rest of you, I'll bring back The Bullshit Exposure Through Dramatization Players to explain the issue with a repeat performance of their 2007 hit "Can't We All Just Get Along?"
Generic Drugmakers: Oh Big Pharma, can't we just get along? Why, when your patent runs out for a medicine, must we sue each other for years instead of competing in the marketplace? Can't we just play by the rules and both earn a legitimate profit?
Big Pharma: There, there little guy. You think our lawyers are mean when they sue each other, but really they are doing us both a favor. Yes, you could make a billion dollars selling a generic version of our drug for 70% less than what we charge, but that would involve you actually doing work. When we sue each other, we can settle, and I can pay you three quarters of a billion dollars to do nothing. We both win.
Generic Drugmakers: But what about the American people, who will continue to have to pay whatever you want to charge for access to this medicine?
(30 seconds of silence)
Big Pharma: Here's a big check.
Generic Drugmakers: You are wise and just Big Pharma.
You read that right (over 5 years ago) Big Pharma has a habit of paying generic drugmakers not to make a product so they can continue to charge the monopolistic prices we all know and loathe. And this week the Supreme Court said they continue to do so at their own peril.
So George Bush's fight against Big Pharma has been won.
You read that right, and I remain as baffled by this as I was the day I first visited the subject. The man who brought us The Iraq war, the one who so skillfully managed the other conflict he started in Afghanistan, the person who gave us Guantanamo and laid the groundwork for the spy state we now live in....took Big pharma to task for overcharging the American people.
Do you think he even knows? Maybe he has no idea and he's gonna be really mad when he finds out.
Or maybe John Roberts has a prescription for Crestor. That's the only other idea I've got. Even my great wisdom has limits it would seem.
Of course I theorized at the time I was on acid, which still might explain a lot actually.
Anyway, I am wise and insightful. Mostly.
3 comments:
Roberts wrote a dissent. It was the older folks who voted for the decision. Kind of figures. I wonder if we can read any significance into the fact that And don't forget the specific drug at issue was Androgel, for low testonerone men, I believe.
Omaha Professor says...
Seems to me that Medicare Part D is a poison pill planted by Republicans to destroy Medicare. With a provision that prohibits the federal government from negotiating "best prices" on drugs for Part D, the Republicans put into place a way to bleed the program while enriching their Big Pharma buddies. And the Democrats were stupid enough to give W this "victory for seniors". What a load of BS. George W. Bush wasn't taking on Big Pharma, he was making sure they stayed on the welfare for corporations gravy train.
Anything George Bush did right was entirely by accident. He did seem to have a soft spot for old people though.
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