PETER ROST: PHARMA MARKETING EXPERT WITNESS. AWP, MEDICAL DEVICE EXPERT.: Waiting for Cheap Drugs?
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PETER ROST: PHARMA MARKETING EXPERT WITNESS. AWP, MEDICAL DEVICE EXPERT.

Peter Rost, M.D., is a former Pfizer Marketing Vice President providing services as a medical device and drug expert witness and pharmaceutical marketing expert. Judge Sanders: "The court agrees with defendants' view that Dr. Rost is a very adept and seasoned expert witness." He is also the author of Emergency Surgery, The Whistleblower and Killer Drug. You can reach him on rostpeter (insert symbol) hotmail.com. Please read the terms of use agreement and privacy policy for this blog carefully.

Waiting for Cheap Drugs?

Cheap drugs are coming.

According to a report by Datamonitor today, drugs with combined annual sales of $160 billion will come off patent in the next ten years. Total global drug sales are around $500 billion.

"Within the next five years an estimated $80 billion in 2005 product sales will be exposed to generic competition, while a further $77 billion will be subject to generic incursion between 2011 and 2015," Datamonitor pharmaceutical lead analyst Joanna Chertkow said.

That also means a bright future for generic drug makers, such as Israel's Teva Pharmaceutical Industries Ltd and U.S.-based firms Watson Pharmaceuticals Inc. and Barr Pharmaceuticals Inc., Iceland's Actavis, and Indian group's Ranbaxy Laboratories Ltd and Dr. Reddy's Laboratories Ltd.

If you go shopping on the stock market, you don't want to buy big pharma, you want to buy generic pharma.

You heard it here first.

4 Comments:

Blogger MsMelody said...

Peter--

Thanks for the stock tip . . . but I'm so disillusioned with the entire realm of BigPharma, I've decided the little money I can invest in stocks won't be aimed at companies that continue to make drugs to "treat the symptoms" instead of seeking cures.

I know this makes my post lengthy, but the following appeared on June 28 on GoozNews. It appears there is no depth to which Pharma will not stoop to gather in a 'bit' more profit. That our SC refused to hear FTC charge is outrageous!

Unchain the FTC!

As expected, not a single newspaper covered the Supreme Court's refusal to hear the Federal Trade Commission’s appeal of a lower court decision prohibiting the antitrust agency from going after Schering-Plough's sweetheart deal with a generic manufacturer. So don't expect to read about the fact that four senators introduced a bill yesterday that would prohibit deals that keep generic drugs off the market for an additional six months.

Fortunately, FDA Webview, an online subscription newsletter, covered the bill's introduction, whose sponsors included Sen. Charles Grassley (R-IA). According to Sen. Herb Kohl (D-WI), the chief sponsor, “These companies are playing fast and loose with antitrust law and padding their profits by forcing families and the federal government to pay far more than we should for prescription drugs.” Sen. Patrick Leahy (D-VT) pointed out that the Schering-Plough case may be the first time in history that the U.S. Solicitor General under any administration has opposed an FTC request for the Supreme Court to hear an antitrust case.


And since I haven't plugged an important book in a few days, here it is:

http://www.tooprofitabletocure.com

7/07/2006  
Anonymous Rosethejet said...

Between bigpharma and oil, we are allowing ourselves to be screwed into the ground. With a return rate for incumbents of about 90 percent, it's no wonder.

I can only hope people will stop voting incumbents back into office. I've heard the excuse that newbies would only be incapable of doing anything. Well right now that is all we have anyway, PROS who are incapable of doing a damned thing right.

Worst congress in history.

Most corrupt.

Most lying.

Most thieving.

WORST CONGRESS EVER!

7/07/2006  
Anonymous Anonymous said...

Generics may be on the way, but not before the brand-name drug industry puts a few roadblocks up in the process -

"Some at the FDA, as well as leaders in the generic drug industry, complain that "citizen petitions" -- requests for agency action that any individual, group or company can file -- are being misused by brand-name drugmakers to stave off generic competition.

The simple act of filing a petition, they say, triggers another round of time-consuming and often redundant reviews of the generics by the FDA, which can take months or years. In the process, consumers continue to pay millions of dollars more for the brand-name drugs.

Statistics collected by the staff of Sen. Debbie Stabenow (D-Mich.), who has introduced legislation with Sen. Trent Lott (R-Miss.) that would rein in industry-filed citizen petitions, show that 20 of the 21 brand-name petitions settled by the FDA since 2003 were ultimately rejected.

"The brand-name drug industry has found a major new loophole," Stabenow said in an interview. "The way things stand now, even if the FDA finds that a petition was frivolous and rejects it, [the drug companies] can get hundreds of millions of dollars of profits from the delay.""

Full story - http://www.corpwatch.org/article.php?id=13827

7/07/2006  
Blogger MsMelody said...

Anonymous--

Thanks for info and link. It appears that the only way to stop these bastards is through the 'power of the pocketbook.' If loopholes allow them to abuse the system--and they do--they should be penalized accordingly.

A "fair" penalty would be the entire sum of profits generated from the time the complaint is filed till resolution PLUS fees for the agency/attorney designated to respond to the frivolous petition.

Several years ago, I saw just such a resolution in a patent-infringement case. A big boy (Kawasaki, I believe) stole intellectual property and incorporated it into the design of a snowmobile. Unfortunately, I think it took 7 to 8 years (perhaps longer) to wind its way through court--but ultimately, the inventor prevailed and was justly compensated.

In this case, where it is a large pharmaceutical who continues to profit at the expense of generic firms and CONSUMERS, let the windfall profits be divided. BUT MAKE THEM SIGNIFICANT so that exploitation of the loophold is ineffectual.

7/07/2006  

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