Word: generics
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...been a rich market for DuPont Pharmaceuticals. The company sells close to $50 million of its blood thinner Coumadin to heart and stroke patients in Florida each year, and it had the market all to itself until 1997. Then the U.S. Food and Drug Administration approved Barr Laboratories' generic version, and suddenly DuPont's monopoly was threatened...
...three years running, DuPont has managed to shut Barr out. This month it quashed a bill that would have made it easier for Florida patients to get generic substitutes for certain brand-name prescriptions. As a result, Floridians are paying at least 25% more for their blood-thinning medication than they would if they had access to the generic version. And the cost of the drug keeps going...
...fret over the high prices of prescriptions, the drug companies have been launching rear-guard actions in the states to protect their profits. Florida is one of about 30 states in which makers of brand-name drugs, often led by DuPont, have pushed to limit patient access to some generic versions. At times the generic companies have pushed back and won. In 1998 Minnesota gave its consumers access to all the cheaper substitutes approved...
...been getting away with this for a long time," said Enrique J. Calixto, the University's United States trademarks administrator. "No other Harvard group or part of the University would be allowed to open a store and sell generic insignia products to the public...
...business context for that decision was highlighted by Wednesday's announcement of an executive order by President Clinton that Washington would refrain from enforcing U.S. patents on AIDS drugs in African countries battling the disease. That would leave those countries free to license or develop far cheaper generic versions of the patented drugs - already in Brazil, for example, a generic version of AZT sells for about 10 percent of the patented drug's price on the U.S. market - which pharmaceutical corporations fear could eventually eat into their global market share...