Word: genericism
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...using patent lawsuits and other delaying tactics to prevent cheaper generic medicines from entering the market, the drug majors cost European consumers up to $4 billion over an eight-year period until 2007, E.U. competition commissioner Neelie Kroes contends. "Market entry of generic companies and the development of new and more affordable medicines is sometimes blocked or delayed, at significant cost to health-care systems, consumers and taxpayers," she said in Brussels...
...headquarters to some of the world's biggest drug companies, including U.S. companies Pfizer and Johnson & Johnson, Britain's GlaxoSmithKline, Anglo-Swedish giant AstraZeneca, and Sanofi-Aventis of France. The other companies known to be raided were Wyeth, Merck, Bayer Schering Pharma and Roche, as well as generic firms Teva and Sandoz...
...physical form (for instance, whether as a liquid, a capsule or a pill). In one case, the E.U. found 1,300 patents for a single medicine. Other tactics condemned by the Commission include launching litigation that lasts nearly three years on average, and lobbying national authorities against giving generic companies regulatory approvals...
...European medicines market is worth over $175 billion. Europeans spend some $275 billion a year on pharmaceutical products - an average of $550 for every man, woman and child. But generic medicines can cost as much as 90% less than branded drugs: total savings gained by copycat drugs entry amounted to at least $17 billion over the 2000-2007 period examined by the Commission. Without these savings, the total expenditure for the medicines would have been more than 25% higher...
...While the non-generic statins can be expensive, testing for the reactive protein only costs about $18 and saves the cost of imaging tests for cholesterol—as well as surgical procedures such as angioplasties or bypass surgeries...