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AbbVie exploited drug patent system to extend market monopoly, abused orphan drug protections to block competition, US House panel finds

( May 18, 2021, 14:17 GMT | Official Statement) -- MLex Summary: AbbVie Inc. has repeatedly raised prices of two of its blockbuster drugs Humira (adalimumab) and Imbruvica (ibrutinib), with the price hikes contributing to billions of dollars in corporate profits while harming American patients and taxpayers, according to a staff report released by the Committee on Oversight and Reform. AbbVie pursued "a variety of tactics" to increase drug sales while raising prices for Americans, including exploiting the patent system to extend its market monopoly, abusing orphan drug protections to further block competition, and engaging in anticompetitive pricing practices, the report found. AbbVie's internal projections raise "serious questions" about whether the 2023 entry dates for biosimilars that AbbVie and its competitors agreed to were "truly negotiated compromises" that reflected the odds of the parties’ success in patent litigation "... or whether AbbVie — in violation of U.S. antitrust law — transferred items of value to its competitors in exchange for them staying off the market longer than they likely would if the patents were litigated," the staff report said.See below....

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