Why is this not illegal Price Fixing?
From yesterday’s Wall Street Journal:
Pfizer Inc. struck a deal with Indian generic drug maker Ranbaxy Laboratories Ltd. to keep a cheaper version of the blockbuster anti-cholesterol drug Lipitor off the US market until November of 2011.
The deal gives Pfizer an extra 20 months of Lipitor revenue at about $1.083 BILLION PER MONTH.
So Pfizer gets to soak US customers and rake in a measly TWENTY BILLION.
Actually it’s $21.66 billion. If you don’t want the other $1.66 billion, I’ll take it.
it isn’t price fixing, b/c they said so
Al,
That extra is for Tom Carper.
I beleive there are lawsuits in the pipeline addressing this illegal activity. We’ll see where it goes.
ouch
Hmmm, I wonder if that’s where the mysterious $63 million came from? Like maybe they were holding off on their final earnings declaration until this went through?
Price fixing done by the Congress/Senate under republican leadership…This is why they didnt want to “purchase drugs in volume”, or let us purchase in Canada. Outside the Oil Cartel in NY/London….the drug companies,and insurance companies are stealing us blind…
What have been saying over and over again…this is why we must support SB 177, single payer health care. Delaware would have its own deal…and we would be able to purchase in bulk, saving our state millions.
There is another reason doctors/nurses are getting out of the “biz”, their malpractice insurance is killing them, they are sick and tired of being told what treatment, what medications to prescribe to their patients. The fastest growing doctors group in the country: PNHP.org. or deinformedvoters.com.