Tuesday, May 26, 2009

Biogen Idec lobbying for approval process for biosimilars

According to Forbes, Biogen Idec has spent over $290,000 lobbying for an approval process from the federal government for biogenerics. There is currently only an approval process to approve generic versions of chemical based drugs.

According to the article: The generic drug industry has put its support behind bills calling for about five years of market exclusivity for biotech drugs before competition can be introduced in the market. The biotech industry has been supporting proposals for up to 14 years of competition-free sales. Both sides are at odds over how much time it takes for companies to recoup development costs and make a profit.

Read the full article here.

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