Friday, October 20, 2006

New regulations give additional dose of protection to drug companies

I haven't read any of the actual legislation yet, but it sounds like these new regulations will protect the brand name pharmaceutical companies and their patents for an extended period of time. However, there is an interesting line in the article stating that these companies will not be able to throw up certain legal roadblocks when a generic company makes application for a new product. As I understand it, brand name companies have the ability to delay new generic approvals even if their patent has expired. These legal tactics effectively delay a generic coming to market and results in a practical extension of a patent.

I'm looking forward to reading more about this and what it will actually mean down the road.

From the Canwest News Service:
Prime Minister Stephen Harper's government quietly unveiled controversial new regulations Wednesday that will extend market protection for some drugs produced by brand name firms in a move critics predict will lead to higher costs for consumers and provinces already facing skyrocketing medicare bills.

The new rules, which took effect earlier this month, increase exclusive selling rights for all brand name drugs to eight years from five, with an additional six months of protection granted to drugs involved in pediatric studies. ...more

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