Consumer Law

Be Afraid, Be Very Afraid - Drug Companies Are Losing Their Patents!

By Joe Consumer

Victims of unsafe drugs had better watch out because the Lipitor patent is out to expire.

I know that might seem strange to say, but take our word for it.  The drug industry never stops finding new ways to blame judges, juries, lawyers and victims of its own lethal screw ups for its financial ?woes?, even though lawsuits have nothing to do with the bottom line of this profiteering industry (and don?t just take our word on that).  But it?s how we got exquisitely bad laws like the federal ?vaccine court? and complete drug industry immunity in Michigan.  

The complaining should be starting any minute.

According to today?s front page New York Times, "This year alone, because of patent expirations, the drug industry will lose control over more than 10 megamedicines whose combined annual sales have neared $50 billion."  (Guess the human gene patent business isn?t quite doin? it.)

The Times also reports that there are ?other changes afoot? that will cut down on their ?immense profits.?

?Growing restrictions on gifts, fees and trips to influence doctors to use their products? (thank goodness ? see here here);

?Curbs on the ghost writing of medical journal articles? (thank goodness- see here);

"A push for more disclosure of negative study results" (thank you Vioxx for that one).

Let?s hope that all happens, although there is more than enough reason to be skeptical.

But there?s more:

The industry has also been unsettled by the scores of fraud, bribery and kickback cases involving conduct that federal investigators contend have added billions to the nation?s drug bill. The penalties have been stiff, and the settlements steep.

In 2009, Pfizer paid the largest criminal fine in the nation?s history as part of a $2.3 billion settlement over marketing drugs for unapproved uses.  Some analysts say larger fraud and foreign bribery cases will come. The drug companies are responding with extra-careful sales training and vows to restrain marketing zeal.  But the change in corporate culture could cost them: internal documents show some of the companies have profited spectacularly from seeking federal approval of a new drug for a limited use, then marketing it far more widely off label.

Yes, and not to mention all the people killed or injured by dangerous off label use.  (Nothing unique to Pfizer, of course - here, here.)

Does anyone disagree that a change in corporate culture is exactly what is needed? 

Full post as published by ThePopTort on March 07, 2011 (boomark / email).