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The loopholes drug companies exploit to keep prices high

Celgene's business tactics, also used by other drugmakers, could allow the company to put off unrestricted competition from generics until 2026

Cynthia Koons & Robert Langreth | Bloomberg 

Bob Kelsey can’t afford a cancer drug that could save his life. The retired firefighter, 53, needs Revlimid to stay healthy. Celgene Corp. has raised the price 88 per cent over the past seven years. The drug doesn’t have substantial competition from a less expensive generic version, and probably won’t for another eight years. Celgene has worked hard to make sure of that. Drugmakers typically have exclusive rights to sell brand-name medicines for 12 or 13 years. After that, cheaper copycats can hit the market. Celgene and a growing number of other pharmaceutical ...

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First Published: Sat, December 23 2017. 23:25 IST