Latest From Akriti Seth
In an exclusive interview with Generics Bulletin, IGBA chair Sudarshan Jain said that a resilient and diversified supply chain is critical, but localized production may not be the answer to everything. IGBA secretary general Suzette Kox and Jain discussed key lessons to be learned from COVID-19, the IGBA’s focus on regulatory harmonization, and challenges in driving the adoption of generics, biosimilars and value-added medicines.
US President Joe Biden has signed an executive order asking the FTC to ban so-called “pay-for-delay” reverse-payment settlements. According to the order, this could help curb high prices that are in part the result of lack of competition among drug manufacturers. However, talking exclusively to Generics Bulletin, AAM senior vice president Jeff Francer insists on a balance, explaining that such settlements result in earlier access to biosimilars and generics.
The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.
Lupin CEO Vinita Gupta has insisted that additional incentives are necessary to make local manufacturing in the US viable. The recently-launched podcast by the US Association for Accessible Medicines, with CEO Dan Leonard as the host, welcomed Gupta who shared details of Lupin’s strategy and how the company plans to keep a firm foot in affordable medicines.
Industry veteran Bob Billings has called for a “level playing field” for the off-patent sector but has underlined the necessary coexistence of generic and branded pharma industry, in a new podcast launched by Association for Accessible Medicines chief executive Dan Leonard.
A study published in the Journal of the American Medical Association has found that while Medicare coverage of generic drugs likely improves patient adherence and reduces other health care utilization, inefficiencies stemming from its “complex and opaque system of intermediaries” mean that it has overpaid on most prescription generics compared to retailer Costco.