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July 23, 2013


Ron Mesnard

Another point of view...
The FTC can pat themselves on the back for saving the public money but are they? The US public assumes creating prescription drugs is extremely profitable because the cost is so high. If that was true, there ought to be an increasing number of companies doing this. There used to be hundreds of pharmaceuticals creating new drugs in the 60s now you can count the US pharmaceuticals that patent and create new drugs on the fingers of one hand. It is too costly and the liabilities are too high to produce a new drug unless you are huge and can bear the costs. Instead of creating a new drug, small pharmaceuticals prey on the most profitable new drugs. They are a bit like patent trolls except these do produce a product. These small pharmaceuticals have a large legal department that reviews the patents of only the most costly drugs and only produce a generic before the patent's expiration date only if they can find a chink in the patent. By settling out of court prescription pharmaceuticals can cut their losses. Lost profits from early generics and class action suits only result in higher prices on new drugs. If they didn't we would be left with only generics.

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