Reckitt Benckiser execs bragged in internal documents that they'd blocked generic competition for their Gaviscon stomach med for years--even after the drug went off patent. According to the BBC, The company blocked generic competition by citing health and patient safety, but documents show the execs were conspiring to throw up obstacles to the generics so they could preserve their Gaviscon revenue. In one document, an executive wrote, "Should we not drag it out as long as possible...nine million pounds of business is at stake."
One former exec told the network that Reckitt sold Gaviscon to the National Health Service for three times the cost of generics. The company had "cheated the NHS" and could have saved the state healthcare provider "millions of pounds," the former official said.
- read the BBC story [1]
Related Article:
The specter of generic competition grows. Report [2]
Analysts get bullish on generics makers. Report [3]
Patent 'cliff' looms for Big Pharma. Report [4]
Links:
[1] http://news.bbc.co.uk/2/hi/uk_news/7282627.stm
[2] http://www.fiercepharma.com/story/specter-generic-competition-grows/2007-12-21
[3] http://www.fiercepharma.com/story/analysts-get-bullish-on-generics-makers/2007-12-19?utm_medium=nl&utm_source=link
[4] http://www.fiercebiotech.com/story/patent-cliff-looms-for-big-pharma/2007-05-02