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Article: Battle for generics.(News)
- Article from:
- Cape Times (South Africa)
- Article date:
- August 10, 2006
CopyrightCOPYRIGHT 2006 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FEW changes would do more to reduce healthcare costs quickly than making generic medications more widely available. Which is why bad news for Bristol-Myers Squibb could be good news for everyone else.
Late last month, federal investigators raided the drug giant's New York offices looking for evidence that it had struck an illegal deal with a competitor to delay the launch of a generic version of the world's second-bestselling drug. On Tuesday, that competitor announced that it planned to start selling the drug anyway. Shares of Bristol-Myers fell almost 7% on the news.
Drug manufacturers such as Bristol-Myers have been under increasing financial pressure ...