Generics

WHAT IT MEANS AND WHY IT'S IMPORTANT — Retail pharmacies scored a big victory in the Centers for Medicare and Medicaid Services rule, which puts the kibosh on pricing policies that would have severely affected retail pharmacies' ability to make money from generic drugs, and thus forced them to turn away Medicaid patients.

ALEXANDRIA, Va. The National Association of Chain Drug Stores and the National Community Pharmacists Association heralded the withdrawal of two provisions from the Medicaid program that would have had retail pharmacies selling generic drugs at a loss.

 

NEW YORK Loss of patent protection for branded drugs and subsequent competition from generics could save the U.S. healthcare system $70 billion or more over the next four years, according to published reports.

 

Reuters reported IMS Health SVP Murray Aitken as saying at the Reuters Health Summit that generics also would increase their dominance in terms of prescriptions dispensed, increasing from 77% during the first half of this year to perhaps 85% by 2014.

 

 

NEW YORK Government officials said problems have arisen with the Food and Drug Administration’s approval of a generic blood-thinning drug due to its previous relationship with the generic drug’s manufacturer, according to published reports.

 

BOSTON An investigative treatment for hepatitis C got strong results in patients who had failed previous treatments or who were new to treatment, according to results of a late-stage clinical trial program announced this week.

WESTON, Mass. Swiss drug maker Biogen Idec and U.S. drug maker Cardiokine have terminated an agreement to develop a treatment for abnormally low sodium levels in the blood, the two companies said Wednesday.

 

The agreement will give Cardiokine all rights to lixivaptan, a treatment for the condition, known as hyponatremia. The collaboration began in 2007, and the drug is in late-stage clinical studies.

 

 

MORRISTOWN, N.J. Sales for generic drug maker Watson Pharmaceuticals grew 33%, to $882.4 million, in third quarter 2010, according to an earnings report released Thursday.

 

The sales figure for the current quarter compared with $662.1 million in third quarter 2009. Profits were $105.9 million, compared with $90 million in third quarter 2009.

 

 

“Watson delivered another quarter of strong financial results and continued progress against our strategic objectives,” Watson president and CEO Paul Bisaro said.

SILVER SPRING, Md. The Food and Drug Administration has approved a generic treatment made by Lupin Pharmaceuticals for allergies, according to FDA records.

 

The drug is a generic version of Schering-Plough’s Clarinex.

 

 

Clarinex has annual sales of around $229 million, according to IMS Health data reported by several media in India, where Lupin is based.