Healthcare Industry News: Mylan Laboratories
News Release - January 31, 2007
The Practice of Authorized Generics During the 180-Day Exclusivity Period May Be Nearing its End With the Introduction of S. 438 - 'The Fair Prescription Drug Competition Act of 2007'PITTSBURGH, Jan. 31 (HSMN NewsFeed) -- Mylan Laboratories Inc. (NYSE: MYL ) today commended Sens. John D. (Jay) Rockefeller IV, W.Va., Charles E. Schumer, N.Y., Patrick Leahy, Vt., and Herb Kohl, Wisc., on the introduction of S. 438, "The Fair Prescription Drug Competition Act of 2007." This legislation, which was introduced in the United States Senate late yesterday, would make it illegal to introduce a so-called "authorized" generic during the 180-day exclusivity period granted by Congress for a generic manufacturer who successfully challenges a patent.
Robert J. Coury, Vice Chairman and CEO of Mylan commented, "We are extremely pleased with the introduction of this bill and thank Sens. Rockefeller, Schumer, Leahy and Kohl for their leadership, insight and support on this issue. As you know, Mylan has been on the forefront of this issue, and we have never wavered in our commitment to address this practice that we believe disrupts the natural balance between innovation and access to affordable medicines that Congress intended for our industry. With the new, more balanced Congress now in session, we believe this legislation has an excellent chance of being signed into law in 2007."
Mylan Laboratories Inc. is a leading pharmaceutical company with three principal subsidiaries, Mylan Pharmaceuticals Inc., Mylan Technologies Inc. and UDL Laboratories Inc., and a controlling interest in Matrix Laboratories Limited, India. Mylan develops, licenses, manufactures, markets and distributes an extensive line of generic and proprietary products.
For more information about Mylan, please visit www.mylan.com.
Source: Mylan Laboratories
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