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Will the Real U.S. Please Stand Up?

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Posted Friday, June 16, 2006, at 5:10 PM ET

More from the FTC. Full disclosure: FTC Commissioner Jon Leibowitz, who is quoted in the first footnote, happens to be a friend of mine. Doesn't mean he's a bad person.

According to FTC commissioner Jon Liebowitz, SEVEN out of the TEN legal settlements between brand-name and generic manufacturers reached during the first two quarters of this fiscal year involved payments from the brand-name company to the generic company AND a promise by the generic company to delay release of its generic.
Naw, ya think?
Generic companies are relatively easy to buy off, because profits on generic drugs aren't all that huge to begin with.
An appeals court overturned the FTC ruling against Schering.
In other words, that antitrust law can't be enforced with respect to these payoffs. Shit happens.
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Posted Friday, June 16, 2006, at 5:10 PM ET
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Timothy Noah is a senior writer at Slate.
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