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[e-drug] EU agrees deal on cheaper drugs (cont'd)

E-drug: EU agrees deal on cheaper drugs (cont'd)

Drug companies typically will either start producing a generic version
of their own drug (called pseudogenerics) or else license someone
else to produce a generic version of a product just before the patent
is about to expire. The idea here is not to offer a product at a lower
price but to undercut the market for independent generics. The first
generic on the market in Canada has a competitive advantage which
persists even after other generics start to appear.

The answer to cheaper drugs for developing countries is not for the
brand-name companies to sell generic versions of their own products.
Part of the answer is to have multiple independent generic companies
producing a product so that market competition drives the price down.

Joel Lexchin MD
121 Walmer Rd.
Toronto Ontario
Canada M5R2 2X8
Tel:  +1-416-964-7186
Fax:  +1-416-923-9515
e mail: joel.lexchin@utoronto.ca
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