CEO DATELINE - PhRMA members weigh membership for generic drug company
CEO DATELINE - PhRMA members weigh membership for generic drug company
- July 6, 2016 |
- Walt Williams
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The world's largest generic pharmaceutical company wants to join Pharmaceutical Research and Manufacturers of America, but some of the association's name-brand drug members say such a move would dilute the mission of the organization.
Teva Pharmaceuticals Industries has asked to join PhRMA's ranks, the New York Times and other media outlets recently reported. Teva sells name-brand medications, but the largest part of its business consists of selling generic drugs.
The issue for some current PhRMA members is that generic and name-brand drugmakers clash on a number of policy issues, from drug patents to trade agreements. As the New York Times put it, those members believe allowing Teva into PhRMA would be "tantamount to allowing a spy into the fold."
"By our research, Teva has sought to invalidate patents in 29 cases since 2011," Carlos Alban, an executive vice president of brand-name drug maker AbbVie, wrote in late May in a letter to PhRMA's board of directors.
Still, allowing Teva to join would inject millions of dollars of revenue into the association, the newspaper reported. PhRMA CEO Stephen Ubl has made it his mission to grow the organization, and a leadership committee has endorsed the idea. PhRMA's board is expected to vote later this month whether to accept Teva into the group's ranks, and several drug lobbyists believe its application will be accepted.
Teva currently is a member of the Generic Pharmaceutical Association. http://nyti.ms/29xpkvm
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