New officers elected at FPN annual meeting
SAN ANTONIO At the beginning of the month, the 18th annual meeting of the Federation of Pharmacy Networks was held. The Federation of Pharmacy Networks works to advance the future of independent pharmacies.
Jon Copeland, Associated Pharmacies and Robin Willmont, Quality Care Pharmacies were elected to the board of directors.
Copeland and Willmont joined the following newly elected officers: President: Curtis Woods, Pace Alliance; Vice President: Robin Willmott, Quality Care Pharmacies; Treasurer: Mel Brodsky, Keystone Pharmacy Purchasing Alliance; and Secretary: Cathi Clark, American Pharmacy Services.
Canada court blocks sale of generic form of Lipitor
NEW YORK Canada’s appeals court ruled in favor of Pfizer not allowing Ranbaxy Labs to produce the generic version of the drug Lipitor, according to published reports.
The decision overturned a ruling made by lower courts that stated that the patent could not prohibit Ranbaxy from selling a cheaper version of Lipitor (atorvastin calcium), which is used to fight cholesterol.
The appeals court of Canada decided that Ranbaxy could manufacture its product as soon as Pfizer’s product expires in 2010, which leads many to believe that this decision will push Ranbaxy to take the matter to the Supreme Court of Canada.
McCain’s healthcare plan suggests a loss for pharmaceutical companies
WASHINGTON John McCain’s healthcare plan, with a call to purchase drugs in Canada, may cost American pharmaceutical companies billions of dollars, according to published reports.
According to McCain, the Republican presidential candidate, “The problem is not that most Americans lack adequate health insurance, the biggest problem with the American healthcare system is that it costs too much.”
McCain’s health policy would allow citizens to purchase medicines legally from Canada, which would make them more affordable for the reported 47 million Americans that don’t have health coverage.
According to published reports, such drugs as Pfizer’s Lipitor, known as the world’s biggest selling drug, costs $60.78 for a 30-day supply of 20 mg pills on CanadaDrugs.com, whereas Drugstore.com in the U.S. sells the same pill in the same amount for $119.99.
The new policy is predicted to cost drug makers—like Pfizer—about $40 billion over 10 years, according to a report by the Congressional Budget Office.