3 chapters across the catalog
FDA Biosimilar Approval, Biotech Drug Pricing
The FDA has approved the first "biosimilar" drug, a low-cost version of the biotech drug Neupogen used for cancer patients. Unlike traditional generics, biosimilars are derived from living organisms; the discussion notes that the lack of transparent pricing for these drugs allows biotech firms to maintain high costs, exemplified by a recent $21 billion company buyout.
The FDA issued a warning regarding counterfeit versions of the cancer drug Avastin appearing in the U.S. supply chain. A 60 Minutes report by Sanjay Gupta further highlights the global trade in counterfeit prescription medications, estimated at $75 billion annually.
Recess Appointments, Islam Siddiqui and Harold Varmus
President Obama utilized recess appointments to place Islam Siddiqui, a pesticide industry lobbyist, as a chief agricultural negotiator. Additionally, Harold Varmus was appointed to lead the National Cancer Institute, despite past controversy regarding his removal of price caps on cancer medications.
