HEALTH

Greenstone to launch Authorized Generics Alliance

BY Alaric DeArment

PEAPACK, N.J. The generics subsidiary of Pfizer is launching a new business focused on authorized generics.

 

Greenstone announced Tuesday the launch of the Authorized Generics Alliance, which it said would combine its business model and 17 years of experience in the generics market with the expertise of other drug makers to market authorized generics in the United States under the Greenstone label.

 

 

“Greenstone is one of the longest-running and most respected marketers of innovator-authorized generics in the United States,” Greenstone general manager Michael Sweitzer said. “As part of Pfizer, Greenstone has the backing of the company’s 161-year expertise in innovation, integrity, quality and supply reliability.”

 

 

Unlike generic drugs, which are approved under an abbreviated regulatory approval process by the Food and Drug Administration after the branded drug company’s market exclusivity has expired and compete with their branded counterparts, authorized generics are branded drugs sold under their generic names with permission from the branded drug maker, often through third-party companies.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
HEALTH

NACDS, NCPA in joint statement praise CMS’ move to withdraw provisions of AMP rule currently blocked by injunction

BY Drug Store News Team

ALEXANDRIA, Va. National Association of Chain Drug Stores president and CEO Steve Anderson and National Community Pharmacists Association acting EVP and CEO Douglas Hoey issued a statement praising the proposed rule by the Centers for Medicare and Medicaid Services that would withdraw existing provisions of the Medicaid pharmacy reimbursement formula under the average manufacturer price model.

"We are pleased that the Centers for Medicare and Medicaid Services has proposed a rule that would withdraw provisions of what is known as the Medicaid average manufacturer price rule. The proposed rule calls for the withdrawal of existing provisions that define AMP, that determine the calculation of federal upper limits, and that define ‘multiple source drug.’ Put simply, all of these provisions relate to the reimbursement to pharmacies for generic Medicaid prescriptions, and thus impact patients’ access to pharmacies. The move to withdraw these provisions is a victory for patient care as it is delivered in America’s pharmacies every day."

"When we filed the lawsuit in 2007 we knew that patient care was at stake. It is important to point out that the withdrawal of these provisions is another step toward reducing what would have been major cuts to pharmacy reimbursement. The end result is not an increase in reimbursement to pharmacy, but rather the lessening of cuts that previously would have involved pharmacies selling most generic drugs at a loss, thereby threatening their long-term ability to provide patient care."

 

“We insisted that this policy was not appropriate. Separately, we also have urged that policy-makers should recognize the ability of pharmacies and pharmacists to help improve health and reduce healthcare costs. We are gratified that this sense is reflected in the pharmacy provisions of the new healthcare-reform law. The new law contains provisions ranging from dramatically reducing the AMP cuts to advancing medication therapy management, through which pharmacists can help patients take their medications correctly. … The costs related to poor medication adherence have been estimated to reach $290 billion annually, or 13% of all healthcare expenditures. We urged that patient care should not be jeopardized, but rather that pharmacy be engaged more strategically for the good of patient health and healthcare delivery."

 

“We anticipate issuing formal comments on CMS’ proposed rule to withdraw these provisions of the AMP rule, and we will continue to work with Congress and with CMS to advocate for access to pharmacy services for patients.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?
HEALTH

Teva markets AcuDial generic

BY Allison Cerra

NORTH WALES, Pa. Teva Pharmaceuticals has launched a generic treatment for epileptic seizures.

 

The world’s largest generic drug maker announced Wednesday the launch of diazepam rectal gel, a generic version of Valeant Pharmaceuticals’ Diastat AcuDial. The drug is administered via rectal syringe and is available in 2.5-mg, 10-mg and 20-mg strengths.

 

 

“Generic pharmaceuticals are playing an increasingly important role in healthcare cost containment,” Teva VP customer operations and marketing Maureen Cavanaugh said. “Teva Pharmaceuticals continues to lead the way with timely new product launches.”

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

Which area of the industry do you think Amazon’s entry would shake up the most?