Authorized Generics Explained

August 13, 2019 | 468 views

DRUGMAKERS LATEST GAMBIT EXPLAINED: DESIGNED TO EXTEND MARKET EXCLUSIVITY AND STIFLE OR DELAY COMPETITION, AUTHORIZED GENERICS CAN BE MORE PROFITABLE THAN BRAND. In 1984, the Hatch-Waxman Act established the modern generic drug business by establishing rules for safety and competition, including granting six months of market exclusivity to the first generic rival to each brand. Big Pharma found a way to circumvent that.

Spotlight

Drugs & Diagnostics for Tropical Diseases

Our mission is to develop treatments and diagnostics for neglected tropical diseases that affect the most impoverished social groups. An urgent gap in treatment technology has left millions in sub-Saharan Africa at risk of debilitating and deadly parasitic diseases--but we're developing a novel diagnostic device that will end this. There is an urgent need for a simple, rapid, and quantitative diagnostic test to detect loiasis, an infection of the parasitic roundworm Loa loa (L. loa). Even though treatments exist, there are no commercial diagnostic tests available to identify the disease and monitor treatment efficacy.

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Pharma Tech

Driving Down Drug Costs: How Real-Time Transparency in PBMs Can Make a Difference

Article | October 6, 2022

In the ever-evolving healthcare landscape, transparency in pharmacy benefit management (PBM) has emerged as a critical issue. The discussion surrounding driving down prescription drug costs and increasing access to affordable medications has brought attention to the practices of PBMs. However, achieving true transparency requires more than just buzzwords; it necessitates access to real-time data that empowers consumers to make informed decisions about their healthcare. In this piece, we will explore the importance of real-time transparency in PBMs and highlight how Xevant, a leading platform, is revolutionizing the industry. The Current State of PBM Legislation With over 100 bills to reform PBM practices, legislative efforts are intensifying to address the business practices associated with PBMs. However, one common concern is the absence of language surrounding real-time automation in many of these bills. The lack of such provisions threatens to undermine the effectiveness of the proposed reforms. It is crucial to examine the available resources and insights to gain a comprehensive understanding of the issue. The current state of PBM legislation and the efforts to reform PBM practices highlight the pressing need for transparency and accountability in the pharmaceutical industry. PBMs play a critical role in the drug pricing ecosystem. Still, concerns about “traditional” PBM business practices, such as lack of transparency and opaque rebate systems, have raised questions about their impact on drug prices and patient access to affordable medications. Xevant's Groundbreaking Solution Xevant, led by CEO Brandon Newman, stands at the forefront of the drive for transparency in PBM practices. As the only platform capable of providing PBMs and consumers with real-time, automated, and completely transparent data from the entire pharmacy benefits ecosystem, Xevant is poised to revolutionize the industry against the backdrop of the political landscape. The absence of language surrounding transparency and real-time automation in many proposed bills threatens the effectiveness of the reforms. Yet, innovative companies like Xevant are leading the charge for openness in PBM practices. Xevant's real-time data automation and optimization capabilities empower consumers with timely, comprehensive, and transparent information, enabling them to make informed decisions about their healthcare and potentially save money. With the potential passage of these bills, the pharmaceutical industry could see a shift towards greater accountability, fairer pricing practices, and improved access to affordable medications. The reforms could also create a more level playing field for generic drug manufacturers, fostering competition and lowering prices. Real-Time Data Automation and Optimization Newman emphasizes that transparency cannot be achieved without access to real-time data automation and optimization. This real-time, customized data enables individuals to compare prices, explore alternatives, and understand the specific cost components related to their medications. By bringing together various parts of lowering drug costs, such as drug rebates, 340B contracts, sell-side discounts, copay assistance, and employer negotiations, Xevant offers a solution that empowers consumers with the information they need when required. The Implications of Timely Access to Data The scarcity of timely access to data among many traditional PBMs is a significant challenge in achieving transparency in the pharmaceutical industry. These PBMs typically collect data annually, which leaves a substantial margin of error and can result in millions of dollars lost from consumers' pockets. In contrast, Xevant's capabilities offer a game-changing solution. With Xevant's platform, consumers gain immediate access to critical information regarding drug rebates, markups during spread pricing, competitive alternatives, and the vast landscape of the pharmaceutical ecosystem. Having these complete datasets available in real-time allows individuals to make informed decisions about their healthcare and potentially save lives. The significance of timely access to data cannot be overstated, as transparency becomes meaningful only when it happens in the present rather than months, or even a year, later than when the impact has already occurred. Navigating Proposed Legislation and Questionable Business Practices Another critical aspect of the PBM landscape that Xevant addresses is the moral implications associated with cost-sharing, clawbacks, spread pricing, and the pass-through of rebates. These practices have long been criticized for their opacity and their negative consequences on patients' access to affordable medications. Xevant's transparency-focused approach highlights these practices, allowing stakeholders to evaluate their ethical implications and work towards fairer alternatives. Xevant recognizes that proposed legislation may have potential cracks that allow for slip-through and the continuation of questionable business practices. Delayed and inaccurate reporting are loopholes that can hinder the effectiveness of reform efforts. By actively engaging with legislators and industry stakeholders, Xevant aims to identify these potential shortcomings and advocate for comprehensive robust legislation that leaves no room forexploitation. The Future of Healthcare and the Role of Real-Time Automation As the discussion surrounding PBM reform gains momentum, the future of healthcare in America hangs in the balance. Xevant sets a new standard for efficiency and consumer empowerment in healthcare decision-making by employing AI-driven technology. Xevant's visionary approach to real-time data automation and optimization paves the way for greater transparency and cost savings in the pharmaceutical industry. Wrapping Up Transparency in pharmacy benefit management is crucial to addressing the soaring costs of prescription drugs and enhancing access to affordable medications. Without access to real-time data and automation, the pursuit of transparency remains elusive. Xevant's groundbreaking platform solves this pressing challenge, enabling PBMs and consumers to access complete, transparent data in real-time. As legislative efforts progress, the need for real-time transparency becomes increasingly evident, and Xevant emerges as the leading legal solution for PBMs. When harnessing the power of real-time data automation, the vision of affordable healthcare can be transformed into a reality, benefiting individuals and the entire healthcare ecosystem.

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Pharma Tech

Tips for Managing Chronic Pain Beyond Prescription Painkillers

Article | September 29, 2022

Painkillers like Oxycontin, Percocet, and Vicodin, have been prescribed by primary physicians, surgeons, dentists, and other healthcare providers to patients suffering from varying levels of pain. Though these medications have proven to be an effective source of pain relief, they have also proven to be highly addictive. In fact, it has even been reported that there are more cases of a drug overdose and deaths from prescription painkillers than heroin or cocaine. While there are a number of factors that play into this opioid epidemic, educating doctors and patients on alternative solutions to managing chronic pain is a great place to start combatting this nationwide crisis.

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Pharma Tech

What are the advantages of PCD Pharma Company?

Article | July 15, 2022

PCD Pharma stands for propaganda distribution. A PCD company gives brand name and support to its franchises. They also provide distribution rights and monopoly rights within a particular region. If a person wants to establish their business, it is a must for them to know the pros and cons of the business to make a sound decision. Needless to mention that PCD company has a lot to contribute in the medical filed. Worldwide in a medical field, A PCD Pharma Company is playing an essential and crucial role in the rapid growth. The pharma industry is progressing t a fast pace. The company uses the latest technologies for each brand which ensures the safety of products and accepts the responsibility of human health & life by providing better outcomes. To have a drug license number and company registration, the cost to establish the company is quite cost-effective that is15000-20000rs. So this gives people a brilliant opportunity to have their unit without digging a big hole in their bank balance. Indian produces exquisite quality products, which make pharma companies a considerable success.

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WALGREEN’S IN HOT WATER OVER PHONY PHARMACIST

Article | February 11, 2020

The drugstore chain agreed to pay $7.5 million in fines after an unlicensed pharmacist at several San Francisco Bay locations illegally filled more than 700,000 prescriptions over a ten-year period. According to California prosecutors, Kim Thien Le stole license numbers from other pharmacists to fill prescriptions for Fentanyl, morphine, and other painkillers. Le pleaded guilty to multiple felony impersonation counts. Walgreen’s agreed to the settlement to avoid being charged with consumer fraud in Alameda and Santa Anna Counties. Prosecutors alleged that Walgreen’s failed to verify Le’s license and did not conduct a thorough background check. The company insisted it has taken remedial measures.

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Spotlight

Drugs & Diagnostics for Tropical Diseases

Our mission is to develop treatments and diagnostics for neglected tropical diseases that affect the most impoverished social groups. An urgent gap in treatment technology has left millions in sub-Saharan Africa at risk of debilitating and deadly parasitic diseases--but we're developing a novel diagnostic device that will end this. There is an urgent need for a simple, rapid, and quantitative diagnostic test to detect loiasis, an infection of the parasitic roundworm Loa loa (L. loa). Even though treatments exist, there are no commercial diagnostic tests available to identify the disease and monitor treatment efficacy.

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In the World of Big Pharma, an Italian Oral Spray Survives

Dr ZinX | July 10, 2020

Yonah S. Tehrani, MD on the potential benefit of the Dr ZinX Zinc + Hinokitiol combination: "The antiviral effects and benefits of Zinc and Hinokitiol may have a tremendous impact on affected individuals and health care systems worldwide." Zinc is a mineral of critical importance to the proper functioning of the immune system in all age groups. Zinc deficiency may result in low resistance to viruses and bacteria. Studies dating back to 1974 have shown that zinc supplementation may contribute to faster recovery from viral illness by directly inhibiting viral replication at the protein level. In order for Zinc to cross into our cells and operate a special transport system is required. This system includes zinc ionophores and zinc binding-proteins. The list of zinc ionophores is extensive and includes Hinokitiol, hydroxychloroquine, quercetin, epigallocatechin, pyrithione, zincophorin, and others.

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Big Pharma game heading for console release next month

pharmaphorum | November 19, 2019

First launched as a PC game in 2015, Big Pharma will be available for all three major games consoles – Sony’s PlayStation 4, Nintendo Switch, and Microsoft Xbox One – from next month, according to publisher Klabater. The game – developed by Twice Circled and Positech Games – is described as “part business sim, part logistics puzzle,” and puts players in the hot seat of a biopharma start-up, trying to translate R&D discoveries into blockbuster brands and transform the company into a multinational corporation. Players start with an empty warehouse, and have to buy the equipment and technology to try to turn it into a profitable factory with multiple production lines, whilst also pumping cash into R&D and sending drug-hunting explorers around the world. The game includes a number of challenges and quests to test budding CEOs as they try to build their empire, and discover whether their business approach is closer to disgraced ‘pharma bro’ Martin Shkreli – currently incarcerated – or legendary biotech pioneer Henri Termeer.

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Cork County on the Rise: Big pharma feels at home in Cork

Irish Examiner | November 14, 2019

In 1969, when global biopharmaceutical company Pfizer located in Ringaskiddy, Cork was a very different place. Verolme, the Dutch-owned shipyard in Rushbrooke, was busy making ships, some of them patrol and fisheries vessels for the State. For generations, workers at the Sunbeam factory in Blackpool had been making textiles. On the banks of the Lee, Ford, or Ford’s as it was known locally, operated an assembly plant that made cars and tractors for places as far away as Argentina. If they needed tyres, Dunlop was only down the road. In the 50 years since, all of these companies have disappeared except Pfizer. Ringaskiddy was Pfizer’s first Irish location. Since then, the company has expanded to six sites in the country, including in Little Island. From an initial investment of €10m in 1969, Pfizer’s investment in Ireland is now €8bn, with a €2bn contribution annually to the economy. Pfizer has a 3,700-strong workforce, making it one of the country’s largest employers.

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In the World of Big Pharma, an Italian Oral Spray Survives

Dr ZinX | July 10, 2020

Yonah S. Tehrani, MD on the potential benefit of the Dr ZinX Zinc + Hinokitiol combination: "The antiviral effects and benefits of Zinc and Hinokitiol may have a tremendous impact on affected individuals and health care systems worldwide." Zinc is a mineral of critical importance to the proper functioning of the immune system in all age groups. Zinc deficiency may result in low resistance to viruses and bacteria. Studies dating back to 1974 have shown that zinc supplementation may contribute to faster recovery from viral illness by directly inhibiting viral replication at the protein level. In order for Zinc to cross into our cells and operate a special transport system is required. This system includes zinc ionophores and zinc binding-proteins. The list of zinc ionophores is extensive and includes Hinokitiol, hydroxychloroquine, quercetin, epigallocatechin, pyrithione, zincophorin, and others.

Read More

Big Pharma game heading for console release next month

pharmaphorum | November 19, 2019

First launched as a PC game in 2015, Big Pharma will be available for all three major games consoles – Sony’s PlayStation 4, Nintendo Switch, and Microsoft Xbox One – from next month, according to publisher Klabater. The game – developed by Twice Circled and Positech Games – is described as “part business sim, part logistics puzzle,” and puts players in the hot seat of a biopharma start-up, trying to translate R&D discoveries into blockbuster brands and transform the company into a multinational corporation. Players start with an empty warehouse, and have to buy the equipment and technology to try to turn it into a profitable factory with multiple production lines, whilst also pumping cash into R&D and sending drug-hunting explorers around the world. The game includes a number of challenges and quests to test budding CEOs as they try to build their empire, and discover whether their business approach is closer to disgraced ‘pharma bro’ Martin Shkreli – currently incarcerated – or legendary biotech pioneer Henri Termeer.

Read More

Cork County on the Rise: Big pharma feels at home in Cork

Irish Examiner | November 14, 2019

In 1969, when global biopharmaceutical company Pfizer located in Ringaskiddy, Cork was a very different place. Verolme, the Dutch-owned shipyard in Rushbrooke, was busy making ships, some of them patrol and fisheries vessels for the State. For generations, workers at the Sunbeam factory in Blackpool had been making textiles. On the banks of the Lee, Ford, or Ford’s as it was known locally, operated an assembly plant that made cars and tractors for places as far away as Argentina. If they needed tyres, Dunlop was only down the road. In the 50 years since, all of these companies have disappeared except Pfizer. Ringaskiddy was Pfizer’s first Irish location. Since then, the company has expanded to six sites in the country, including in Little Island. From an initial investment of €10m in 1969, Pfizer’s investment in Ireland is now €8bn, with a €2bn contribution annually to the economy. Pfizer has a 3,700-strong workforce, making it one of the country’s largest employers.

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