Generic drugs delayed after payoffs
- Blog Post by: Jane Friedmann
- October 28, 2011 - 6:28 PM
If you’ve been waiting for the generic version of your prescription drug to hit the marketplace, you may have to wait months longer. Brand-name manufacturers of more than two dozen drugs paid potential rivals to hold off on production, according to a Federal Trade Commission announcement last week.
Twenty-eight “pay-for-delay” deals were struck between October 2010 and September 2011 for drugs with combined annual U.S. sales of more than $9 billion, an FTC study found.
Pay-for-delay deals set back the introduction of generics by an average of 17 months, the report said, and prohibiting the deals would “reduce the federal deficit by $2.67 billion over 10 years.”
The agency has challenged some settlements in court, calling them anti-competitive and a violation of U.S. antitrust laws.
Bicycles recalled for bad bolt
About 27,000 Trek and District brand bicycles sold this year are being recalled after it was found that a bolt that secures the seat can break, the U.S. Consumer Product Safety Commission said last week.
Models affected are Trek 7.2 FX, 7.3 FX, 7.4 FX and 7.5 FX and District models WSD, Livestrong and Disc. The last two digits of the SKU number stamped on the bike are 12.
Contact a Trek dealer for a free replacement bolt. Call 800-373-4594 for information.
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