Big Pharma Deals to Preserve High Drug Prices 'Skyrocketed' in FY 2010

Filed under: Family Money, Consumer Ally

It sounds illegal, but it's not: Major drug companies are essentially bribing generic rivals to delay the release of cheaper drugs, costing consumers billions of dollars a year -- and the number of these deals surged by more than 60 percent last year.

According to a new report by the Federal Trade Commission, pharmaceutical companies made an "unprecedented number of deals" with generic manufacturers in Fiscal Year 2010, postponing the introduction of lower-cost generic drugs onto the market.

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Big Pharma Deals to Preserve High Drug Prices 'Skyrocketed' in FY 2010 originally appeared on WalletPop on Thu, 05 May 2011 11:00:00 EST. Please see our terms for use of feeds.

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