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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly)
PFE 24.65+1.5%Oct 31 9:30 AM EST
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To: Sonki who started this subject1/29/2001 8:44:00 PM
From: vestor   of 1722
 
Generic drug maker trade groups to merge
NEW YORK, Jan 29 (Reuters) - The two major trade groups representing makers and suppliers of generic drugs have agreed to merge, consolidating their lobbying power to push for legislation favorable to affordable treatments, said one of the organizations on Monday.

The National Association of Pharmaceutical Manufacturers (NAPM) said it would merge into the Generic Pharmaceutical Association (GPhA), pending approval by members of the NAPM.

NAPM member companies include the North American subsidiary of German chemicals giant BASF AG (BASF), Canadian drug maker Biovail Corp. (T.TSE:BVF) and Cincinnati firm Duramed Pharmaceuticals Inc. (NASDAQ:DRMD).

"As Congress prepares to debate prescription drug benefit under Medicare, and as the new Bush Administration gears up to address the high cost of drugs in this country, it is essential that the generics industry come together to work for increased access to high quality, affordable pharmaceuticals," said NAPM chairman Thomas Russillo in a statement.

Generic copycat versions often bring prices of branded drugs down as much as 60 percent from their original price.

However, in an effort to safeguard profits, branded drug companies have attempted to extend patent protection over their drugs, staving off cheaper generic competitors. Both lobbying groups have fought against allowing such strategies.

The NAPM and the GPhA also hope to persuade the U.S. Government to incorporate generic drugs in prescription drug coverage plans.
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