Paying For Delay
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Paying For Delay
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Author : C. Scott Hemphill
language : en
Publisher:
Release Date : 2013
Paying For Delay written by C. Scott Hemphill and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Over the past decade, drug makers have settled patent litigation by making large payments to potential rivals who, in turn, abandon suits that (if successful) would increase competition. Because such "pay-for-delay" settlements postpone the possibility of competitive entry, they have attracted the attention of antitrust enforcement authorities, courts, and commentators. Pay-for-delay settlements not only constitute a problem of immense practical importance in antitrust enforcement, but also pose a general dilemma about the proper balance between innovation and consumer access. This Article examines the pay-for-delay dilemma as a problem in regulatory design. A full analysis of the relevant industry-specific regulatory statute, the Hatch-Waxman Act, yields two conclusions. First, certain features of the Act widen, often by subtle means, the potential for anticompetitive harm from pay-for-delay settlements. Second, the Act reflects a congressional judgment favoring litigated challenges, contrary to arguments employed to justify these settlements. These results support the further conclusion that pay-for-delay settlements are properly condemned as unreasonable restraints of trade. This analysis illustrates two mechanisms by which an industry-specific regulatory regime shapes the scope of antitrust liability: by creating (or limiting) opportunities for anticompetitive conduct as a practical economic matter, and by guiding as a legal matter the vigor of antitrust enforcement in addressing that conduct.
Pay For Delay Deals
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Author : Competition P. Subcommittee on Antitrust
language : en
Publisher: CreateSpace
Release Date : 2015-06-17
Pay For Delay Deals written by Competition P. Subcommittee on Antitrust and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-17 with categories.
In 2012, analysts estimate that Americans spent $325 billion on prescription drugs and they predict that drug sales will rise by more than four percent in the year 2014. Generic drugs, which can cost as much as 90 percent lower than brand-name drugs, help rein in the costs. A brand-name drug that costs $300 per month might be sold as a generic for as little as $30 per month, but for several years, pay-for-delay deals have robbed consumers of cost-saving generic drugs. At the very core, these deals involve collusion between brand and generic competitors to keep generic competition off the market. A brand-name drug company pays their generic competitor cash or another form of payment. In exchange, the generic delays its entry into the marketplace. The brand company wins because it gets to maintain its monopoly, and the generic company wins because they get paid more than they would have if they came to market. But American consumers and American taxpayers lose out on lower-cost generic drugs to the tune of billions of dollars each year, $3.5 billion according to the Federal Trade Commission.
Pay To Delay
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Author : United States. Congress. House. Committee on the Judiciary. Subcommittee on Courts and Competition Policy
language : en
Publisher:
Release Date : 2010
Pay To Delay written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Courts and Competition Policy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Pay For Delay How Drug Company Pay Offs Cost Consumers Billions
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Author :
language : en
Publisher: DIANE Publishing
Release Date : 2010
Pay For Delay How Drug Company Pay Offs Cost Consumers Billions written by and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Drugs categories.
Payments Delay
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Author : Ben R. Craig
language : en
Publisher:
Release Date : 2018
Payments Delay written by Ben R. Craig and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
We use a unique dataset of transactions from the real-time gross settlement system TARGET2 to analyze the behavior of banks with respect to the settlement of interbank claims. We focus on the time that passes between a payment's introduction to the system and its settlement, the so-called payment delay. Delays represent the means by which some participants could free ride on the liquidity of others. These delays are important in that they can propagate other delays, thus prompting concerns that they could cause system gridlock. This paper characterizes the delays in the TARGET2 and analyzes whether delays in incoming transactions could cause delays in outgoing transactions. We distinguish between the potentially mechanical pass-through of delays and the reaction of one bank to its delaying counterparty, and we propose a set of instruments to tackle endogeneity issues. We find evidence that delays do propagate downstream; however, in most cases the effect is rather limited. As for delaying strategies on a payment-by-payment basis, contrary to the theoretical literature, the data show only very weak evidence. This conclusion opens a venue for research how banks may rather follow persistent liquidity management routines.
Pay For Delay Deals
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Author : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights
language : en
Publisher:
Release Date : 2013
Pay For Delay Deals written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Competition categories.
A Note On Optimal Payment Time Under Permissible Delay In Payment For Products With Deterioration
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Author : Shuo-jye Wu
language : en
Publisher:
Release Date : 2003
A Note On Optimal Payment Time Under Permissible Delay In Payment For Products With Deterioration written by Shuo-jye Wu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Pay To Delay
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Author : United States. Congress. House. Committee on the Judiciary. Subcommittee on Courts and Competition Policy
language : en
Publisher:
Release Date : 2010
Pay To Delay written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Courts and Competition Policy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Pay For Delay
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Author :
language : en
Publisher:
Release Date : 2010
Pay For Delay written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Pharmaceutical Pay For Delay Reexamined
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Author : Laura Karas
language : en
Publisher:
Release Date : 2020
Pharmaceutical Pay For Delay Reexamined written by Laura Karas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
The Supreme Court ruled in FTC v. Actavis that a delay in generic entry may be anticompetitive when part of a patent settlement that includes a large and otherwise unjustified value transfer to the generic company, termed a reverse payment patent settlement, or “pay-for-delay.” Following Actavis, drug companies have limited the size of reverse payments and have fashioned settlement terms that include more discreet categories of compensation to generic companies. In light of the fact that such settlements retain the potential for anticompetitive effects, the apparent size of the reverse payment may no longer be a useful gauge of the legality of pay-for-delay deals. In this article, we argue that convoluted settlements in the post-Actavis landscape that camouflage value transfers from brand-name to generic companies necessitate a shift in the focus of antitrust scrutiny to the existence of any restriction on generic entry together with a category of patent less likely to survive a challenge. We conclude with a discussion of pay-for-delay bills in the 116th Congress and propose several reforms to deter pay-for-delay behavior.