The Food and Drug Administration (FDA) announced a shame list of companies that try to block generic drugs in order to ramp up profits.
Pharmaceutical companies argue that they spend billions of dollars to research and develop new drugs, which they don’t want competitors profiting from by making cheaper generic copies of these medicines. These companies often fight for patent extensions, seek new uses for old products and sometimes prevent generic drug companies from obtaining samples.
Here are the 40 companies that made the FDA’s list:
Ranbaxy Laboratories Sun Pharmaceutical Industries Limited Galena Biopharma, Inc. Roche Palo Alto, LLC Bayer AG Novartis AG (ADR) (NYSE:NVS) Mylan NV (NASDAQ:MYL) Acorda Therapeutics Inc (NASDAQ:ACOR) AstraZeneca plc (ADR) (NYSE:AZN) Teva Pharmaceutical Industries Ltd (ADR) ADR (NYSE:TEVA) HLS Therapeutics, Inc Orphan Europe SARL King Pharmaceuticals Inc. Cubist Pharmaceuticals Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) Cephalon (MM) ApoPharma Inc Shire Plc NPS Pharmaceuticals Inc Boehringer Ingelheim GmbH Questcor Pharmaceuticals Inc Pharmacia & Upjohn Inc Aegerion Pharmaceuticals Inc (NASDAQ:AEGR) Corcept Therapeutics Incorporated (NASDAQ:CORT) BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Gilead Sciences, Inc. (NASDAQ:GILD) Roxane Laboratories, Inc. Danco Laboratories LLC Meda Pharmaceuticals Inc Actelion Ltd. Swedish Orphan Biovitrum AB Celgene Corporation (NASDAQ:CELG) GlaxoSmithKline plc (ADR) (NYSE:GSK) VIVUS, Inc. (NASDAQ:VVUS) Hyperion Therapeutics Inc H. Lundbeck A/S Insys Therapeutics Inc (NASDAQ:INSY) Biogen Inc (NASDAQ:BIIB) Pfizer Inc. (NYSE:PFE) Valeant Pharmaceuticals Intl Inc (NYSE:VRX)