A box of Ozempic and its contents sit on a table in Dudley, North Tyneside, Britain, October 31, 2023.
Lee Smith | Reuters
The Federal Trade Commission said Tuesday it is challenging hundreds of alleged “junk” patents held by drug companies for 20 brand-name drugs, including Novo Nordisks Blockbuster drugs Ozempic, Saxenda and Victoza.
The FTC sent letters to 10 companies warning them that certain drug patents were not properly listed. These companies include Novo Nordisk, AstraZenecaBoehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals And Amphastar Pharmaceuticalsand some of its subsidiaries.
Many of the drug patents cover type 2 diabetes as well as asthma and inhalers for chronic obstructive pulmonary disease (COPD).
Most top-selling drugs are protected by dozens of patents covering various ingredients, manufacturing processes, and intellectual property. Generic drug manufacturers can only bring cheaper versions of a brand-name drug to market if the patents have expired or are successfully challenged in court.
“By filing fake patent applications, pharmaceutical companies block competition and increase the cost of prescription drugs, forcing Americans to pay exorbitant prices for the drugs they rely on,” FTC Chairwoman Lina Khan said in a press release. “By challenging junk patent applications, the FTC combats these illegal tactics and ensures Americans have timely access to innovative and affordable versions of the medicines they need.”
The FTC also informed the Food and Drug Administration of the challenges. The FDA maintains patent records for approved drugs in a document called the Orange Book.
The FTC first challenged dozens of brand-name drug patents last fall, prompting three drugmakers to comply and cancel their patents with the FDA. Five other companies did not.
Tuesday’s announcement expands the Biden administration’s efforts to crack down on alleged patent abuses by the pharmaceutical industry. The FTC has argued that drugmakers are unnecessarily filing dozens of additional patents on brand-name drugs to keep their drug prices high and deter generic competitors from entering the U.S. market.
The patent disputes complement the Biden administration’s broader efforts to make health care more affordable for Americans – a key pillar of President Joe Biden’s 2024 re-election campaign.
Don’t miss these exclusives from CNBC PRO
Source link
2024-04-30 18:05:38
www.cnbc.com
