Big Pharma's delaying tactic costs consumers $3.5 billion a year


I've always had ambiguous feelings about the pharmaceutical industry. On the one hand, there's no denying all the breakthroughs and life-saving drugs they've researched and developed. Let's not forget all the medicines that simply make our lives easier.

On the other hand, Big Pharma is sometimes found to be dealing in murky waters. Perhaps because of the nature of their products, we hold them to higher standards. Still, there's no denying that the pharmaceutical sector -- just like any other -- has its occasional bad apple and questionable practices.

One such practice is the "pay for delay" one, which ends up costing U.S. consumers $3.5 billion a year -- $1.2 of which is paid by the government, so says Federal Trade Commission chief Jon Leibowitz.