GSK Anti-competition

The Dread Pirate · 19 Apr 2013 at 10:57

Hi Guys,

Not sure if you heard about this but it seems GSK have been up to their old tricks and paying competitors to withhold drug releases in order for GSK to reap more profits selling the drug at premium prices.

http://uk.reuters.com/article/2013/04/19/uk-glaxosmithkline-antitrust-idUKBRE93I07420130419

SFAIC the Pharma industry is getting worse and worse as time goes on caring more about profit and expanding their business rather than keeping us healthy much more should be done to curb this sort of profiteering in this industry what do you guys think.

edit: Doh can one of you Awesome Mods please add a p to the title please?

oulton · 19 Apr 2013 at 10:59

the swines!

Xordium · 19 Apr 2013 at 11:00

Considering there is a vocal group on these forums think people with depression just need to buck their ideas up I doubt they'll be too bothered in this case.

[FnG]magnolia · 19 Apr 2013 at 11:05

Xordium said:
Considering there is a vocal group on these forums think people with depression just need to buck their ideas up I doubt they'll be too bothered in this case.

You're probably one of the few people on this forum whose opinion, however weighted, is relevant.

What do you think?

The Dread Pirate · 19 Apr 2013 at 11:08

Xordium said:
Considering there is a vocal group on these forums think people with depression just need to buck their ideas up I doubt they'll be too bothered in this case.

It's not just the anti-depression Meds I'm talking about but other types of medication also. When it comes down to it the companies would rather see their profits climb than allow others to manufacture cheaper and just as effective alternatives it sickens me that they're able to get away with such underhanded tactics and get off with no more than a slap on the wrist and fined for it there should be criminal charges to pay after all this is all of our health they're profiteering form and it should be stopped.

checjb · 19 Apr 2013 at 11:08

Although I haven't fully disgested the full, unbiased content of this yet I understand that there is more to this than to actual headlines. GSK paid (for some reason)generics manufacturers to withhold launch of generic Seroxat to the market ahead of GSK's patent expiry. Why they chose to pay when they could've sued is beyond me though. IF that is accurate then they did nothing wrong. The generics industry repeatedly release generic medications before patent expiry and people naively think this is a good thing. However, if you follow that through then the patent holder is losing invested cash and will stop conducting R&D to release new products as their investment isn't protected by the very laws that are supposed to do that.

The Dread Pirate · 19 Apr 2013 at 11:10

checjb said:
Although I haven't fully disgested the full, unbiased content of this yet I understand that there is more to this than to actual headlines. GSK paid (for some reason)generics manufacturers to withhold launch of generic Seroxat to the market ahead of GSK's patent expiry. Why they chose to pay when they could've sued is beyond me though. IF that is accurate then they did nothing wrong. The generics industry repeatedly release generic medications before patent expiry and people naively think this is a good thing. However, if you follow that through then the patent holder is losing invested cash and will stop conducting R&D to release new products as their investment isn't protected by the very laws that are supposed to do that.

From What I heard on the radio the Patent has already expired and before it did they managed to get the other Pharma Firms to sign up to an agreement where they would pay the other companies to not manufacture cheaper alternatives.

UncleRuckus · 19 Apr 2013 at 11:12

I don't know how I feel about this. Maybe the finger should be pointed at the companies who took money not to release a cheaper version of the drug?

Xordium · 19 Apr 2013 at 11:13

[FnG]magnolia;24144500 said:
You're probably one of the few people on this forum whose opinion, however weighted, is relevant.

What do you think?

Oh, I think I have to keep my opinions to myself these days I upset far too many people when I air them.

The Dread Pirate · 19 Apr 2013 at 11:13

My Point is not only glaxo are doing this and regulation should be put in place to curb this sort of profiteering.

checjb · 19 Apr 2013 at 11:13

From the BBC's article: ""In fact, these arrangements actually resulted in generic versions of paroxetine entering the market before GSK's patents had expired," the company said in a statement."

checjb · 19 Apr 2013 at 11:14

The Dread Pirate said:
My Point is not only glaxo are doing this and regulation should be put in place to curb this sort of profiteering.

Profiteering? If GSK don't make money on their R&D efforts to produce new drugs do you genuinely think that they (a commercial business) will continue to try? :confused:

The Dread Pirate · 19 Apr 2013 at 11:20

checjb said:
Profiteering? If GSK don't make money on their R&D efforts to produce new drugs do you genuinely think that they (a commercial business) will continue to try?

Hey I'm going form what I heard on the radio that they were actively stopping competition form producing the drug even after the patents had expired as such the R&D would have already completed they'd have made their money and now they're profiting off of medication that can be produced cheaper by other companies who aren't allowed to because they've entered into a shady agreement with GSK. I may have misheard the radio and have my facts wrong but if I've got them right this is a serious problem across the industry.

"pay-for-delay" was the phrase used I believe.

[FnG]magnolia · 19 Apr 2013 at 11:27

Xordium said:
Oh, I think I have to keep my opinions to myself these days I upset far too many people when I air them.

As long as you don't 'offend' anyone I"m sure it'll be fine

Xordium · 19 Apr 2013 at 11:29

[FnG]magnolia;24144664 said:
As long as you don't 'offend' anyone I"m sure it'll be fine

The chances of that are minimal. Someone will either a) work in the pharmaceutical industry or b) have someone they cared about die because they could get access to potentially lifesaving drugs. So I will offend someone either way. I am sure an intelligent bloke like yourself can already figure out my answer.

The Dread Pirate · 19 Apr 2013 at 11:29

checjb said:
"In fact, these arrangements actually resulted in generic versions of paroxetine entering the market before GSK's patents had expired," the company said in a statement."

And you believe what GSK says did they happen to submit proof along also?

haz_pro · 19 Apr 2013 at 11:29

checjb said:
Profiteering? If GSK don't make money on their R&D efforts to produce new drugs do you genuinely think that they (a commercial business) will continue to try?

Pretty much this.

Their pipeline isn't looking the strongest and profit is the reward for all businesses so of course they will milk it.

checjb · 19 Apr 2013 at 12:29

Very true Haz_Pro. GSK staff were actually told not too long ago that, from a purely money-focused point of view, for a shareholder to invest in GSK in fairly poor business. They could potentially get a better chance of return on investment from B&Q than from trying to develope medicines.

WillyNelson · 19 Apr 2013 at 13:40

haz_pro said:
Pretty much this.

Their pipeline isn't looking the strongest and profit is the reward for all businesses so of course they will milk it.

checjb said:
Very true Haz_Pro. GSK staff were actually told not too long ago that, from a purely money-focused point of view, for a shareholder to invest in GSK in fairly poor business. They could potentially get a better chance of return on investment from B&Q than from trying to develope medicines.

Pretty much this. The GSK pipeline is very poor and they gave up looking for the next magic bullet years ago*, preferring to concentrate on improvements of existing drugs and provising a better, trustworthy & more reliable supply than the generic manufacturers. There are still a few things that only GSK have the technology & knowledge to produce but the days of Big Bang dugs are most probably gone.

*this was a key shift when Andrew Witty took over from JP Garnier.

Skeeter · 19 Apr 2013 at 14:37

OcUK "how dare a company try to make profit" thread shocker.