Generic drug companies responded to an unfavorable Senate committee vote.
The struggle over US biogenerics legislation is continuing. Generic drug companies are now reacting to the vote by the Senate Committee on Health, Education, Labor and Pensions, which was unfavorable to biogenerics.
28 generic companies wrote to three senators asking them to change the decision, which included a 12-year exclusivity period for brand biological treatments. The companies said that this decision would restrict access to biogenerics, which cost consumers less than brand drugs. The biogenrics legislation is due this year.
Teva North America CEO William Marth is the first signatory on the letter. Another Israeli signatory is Taro Pharmaceutical Industries Ltd. (Pink Sheets: TAROF). Marth said that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) could not offer a business model for biogenerics production if the final law included the Senate committee's decision.
Published by Globes [online], Israel business news - www.globes-online.com - on July 23, 2009
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