Big Pharma Deals to Preserve High Drug Prices 'Skyrocketed' in FY 2010

Generic medicines are recieving bribes for later introductory dates
Generic medicines are recieving bribes for later introductory dates

It sounds illegal, but it's not: Major drug companies are essentially bribing generic rivals to delay the release of cheaper drugs, costing consumers billions of dollars a year -- and the number of these deals surged by more than 60 percent last year.

According to a new report by the Federal Trade Commission, pharmaceutical companies made an "unprecedented number of deals" with generic manufacturers in Fiscal Year 2010, postponing the introduction of lower-cost generic drugs onto the market.