Waxman, the FTC, the USPTO and the FDA...
Lately, the reasons that Sepracor has been suffering, are almost comic.
First Waxman, worrying about high drug prices, has the FTC look into "competitive" concerns within the drug industry, when it is the USPTO, who guarantees the "inventor" a monpoly market by granting patents. It is this which leads to innovation that has made this economy so strong. Along comes the FDA, which understandably needs to ensure the safety and efficacy of drugs, takes all the time in the world after the trials are done and product approvable, and asserts even more regulatory control, costing the drug industry ever higher expenses for each product. Perhaps Waxman should look more closely at the FDA instead ? In any event, if people had a direct hand in choice of medecine, free market competition would ensure that pricing was as reasonable as it could be, considering the level of regulation.
Dr. David Kessler, the last FDA commissioner, is missed. As a pediatrican, he tried to encourage the development of more pediatric labeling. He also helped to speed up and improve the regulatory process.
Waxman is simply catering to a price issue of the public. FTC is only investigating. Allegra may be up in the air with the interference issue, but lets face it, it works. My worst case for Sepracor is that it just becomes a super-generic drug company. My best case goes way beyond Daves model.
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