THE REFILL: Latest Dosage of Rx Patent Abuse
WHAT YOU NEED TO KNOW
- A must-read report was recently released – The 2020 Access and Savings Report by the Association for Accessible Medicines (AAM) – a member of CAPA – that highlights the critical benefits of increasing access to alternative prescription drugs which can drive affordability for not only American patients, but the healthcare system as a whole. The report finds that generics represent 90 percent of prescriptions yet only account for 20 percent of prescription drug spending. Further, 92 percent of generic prescriptions are filled for less than 20 dollars.
- CAPA Executive Director Matthew Lane commented on the report — “It’s no surprise that increasing access to effective, high-quality and affordable generic and biosimilar medicines could benefit the nation as a whole. However, current federal regulations on healthcare and pharmaceutical industries opens the door for abuses that keeps options low and prices high…” Check out the full statement here.
- IN CASE YOU MISSED IT: The IQVIA Institute for Human Data Science also determined in a recent report that by introducing generic drugs and biosimilars to the U.S. healthcare market, our nation is on track to reduce spending on medications by $100 billion over the next five years.
- CAPA took to Twitter: “Bringing generic drugs and biosimilars to the market helps lower the prices of the drugs American patients need most. This is why we need to fight patent abuse and allow market competition…”
WHAT YOU SHOULD BE READING:
- After a period of protracted uncertainty, a new report finds the long-awaited market for biosimilars appears to be taking off in the U.S. and is on track to reduce overall spending on medicines by $100 billion over the next five years. So far, the 22 biosimilars available in the U.S. have a combined 20% market share, which represents about 16% of all biologic sales, according to the IQVIA Institute for Human Data Science, which issued the report.
Coalition For Affordable Prescription Drugs: The Cost Of Brand Drug Product Hopping
- Brand drug manufacturers in the United States have developed strategies to thwart generic competition and preserve monopoly profits longer than policymakers intended. In doing so, they cost US patients and healthcare payors billions of dollars… The analysis presented in this paper finds that just five instances of specific product hops cost the US healthcare system $4.7 billion annually.
Bloomberg Law: Third Circuit Limits FTC Ability To Recoup Profits From AbbVie (1)
- Federal district courts can’t allow the FTC to reclaim profits from companies that benefited from unfair competition, the Third Circuit ruled in a case over AbbVie’s control of a testosterone gel patent. The appeals court Wednesday reversed a district court decision ordering AbbVie and Besins Healthcare Inc. to pay $448 million for allegedly filing sham patent lawsuits to stifle competition
- The United States Patent and Trademark Office (USPTO) today released a report titled “Public Views on Artificial Intelligence and Intellectual Property Policy.” It takes a comprehensive look at a wide variety of stakeholder views on the impact of artificial intelligence (AI) across the intellectual property (IP) landscape, including patent, trademark, copyright, and trade secret policy, as well as developing issues about database protection. The new report represents the agency’s firm commitment to keeping pace with this rapidly changing and critical technology in order to accelerate American innovation.
WHAT WE’RE SHARING