From CNBC: 2024-04-30 15:41:21

The Federal Trade Commission challenges alleged “junk” patents held by pharma companies for 20 brand-name drugs, including Novo Nordisk’s blockbuster medications such as Ozempic. The FTC is targeting patents for Type 2 diabetes, asthma, and COPD treatments in an effort to lower drug prices and increase competition in the market.

Pharmaceutical companies like Novo Nordisk, AstraZeneca, and GlaxoSmithKline received letters warning them of improperly listed drug patents. The FTC aims to ensure Americans have timely access to affordable medications by challenging these patents, which can block competition and inflate drug prices.

The Biden administration supports the FTC’s efforts to crack down on alleged patent abuses by the pharmaceutical industry. The FTC argues that drugmakers use additional patents to maintain high drug prices and hinder generic competitors. This move aligns with Biden’s goal of making healthcare more affordable for Americans, a key focus of his 2024 reelection campaign.



Read more at CNBC: FTC challenges patents held by drugmakers, including for Ozempic