Pharmaceutical Companies ARE Looking Out For You!

From AP:

The chairman of the Federal Trade Commission says eliminating lucrative patent settlements between brand-name and generic drug companies would save consumers $3.5 billion annually.

The FTC has waged a years long campaign against so-called “pay-to-delay” settlements, in which a branded drug company rewards a generic competitor for keeping cheaper versions of its drugs off the market.

While the FTC calls the deals anticompetitive, they have been upheld by courts.

In a speech in Washington, FTC Commissioner Jon Leibowitz calls on Congress to pass a bill banning the settlements. He says it could save consumers $35 billion over 10 years, about $12 billion of which would go to the government.

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