Generics Drug Companies Take on Big Pharma

It looks like generic drug makers and traditional pharmaceutical companies are planning to duke it out in the next couple of months, and the results could have long lasting effects on the health care industry. One of the most hotly-contested issues right now among pharmaceutical companies is the time frame for which companies can start developing generic drugs. Right now the big pharmaceutical companies like J&J, Amgen, and Pfizer are recently pushing for a 14 year(!) exclusivity for moneymaking drugs such as Lipitor and Celebrex because the companies are claiming anything less than 14 years will "crush innovation". Why? Because they argue smaller companies, before they are acquired, take many years to develop a drug. Generic drug makers are arguing that 7 years is fair for both types of pharmaceutical companies and will allow people who cant afford name brand drugs to get the proper health care they need. What do you think? Are the traditional pharmaceutical companies being to greedy, or do they have a point? [Article 1][Article 2]