Report Says Tactic Used By Pharmaceutical Companies Keeps Drug Prices Up

10/15/2015 // JusticeNewsFlash // (press release)

U.S. – Some big pharmaceutical companies are being accused of keeping drug prices high through the use of tactics like one that is referred to as “product hopping.” As reported by ConsumerReports, drug manufacturer Warner Chilcott, stands accused in a lawsuit of employing tactics such as stopping the production of drugs in their original form to prevent generic versions from being marketed.

 

The strategy to manipulate drug laws in an effort to prevent or prolong generic manufacturers from introducing generic forms of drug products onto the market is one that the report alleges has been used in recent years by major drug companies in order to keep prices for their brand name products high.

 

The Federal Trade Commission and various consumer groups have begun speaking out about the practice. A charge has been made in federal court that it is a violation of antitrust laws.

 

George Slover, a senior policy counsel for Consumers Union, is quoted as stating of the issue “If product hopping is allowed to become standard practice, the cost to consumers could be staggering.”

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Source: ConsumerReports Story http://finance.yahoo.com/news/surprising-way-big-pharma-keeps-100005558.html;_ylt=AwrC2Q5qPB5W8TQA6DLQtDMD;_ylu=X3oDMTByOHZyb21tBGNvbG8DYmYxBHBvcwMxBHZ0aWQDBHNlYwNzcg–

 

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