Consumer Law

FTC Chair Jon Leibowitz Calls for Ban on "Pay-for-Delay" Drug Settlements

By Brian Wolfman

In a speech yesterday, FTC Chair Jon Leibowitz explained that a study done by his agency shows that ending so-called ?pay-for-delay? settlements between brand-name and generic drug companies would save consumers $3.5 billion a year. He called for Congress to ban or restrict those settlements. In pay-for-delay settlements, the brand-name company pays a generic company that has challenged the brand-name company's patent to stay out of the market.

For a quick synopsis, check out the FTC's press release, or, for more details, read Leibowitz's speech in full.

Full post as published by CL&P Blog on June 24, 2009 (boomark / email).