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Vying for Market Share, Companies Heavily Promote ‘Me Too’ Drugs

Our comprehensive analysis of drug company spending on doctors in the last five months of 2013 shows the most-promoted products typically were not cures, breakthroughs or top sellers.

 

For more than five decades, the blood thinner Coumadin was the only option for millions of patients at risk for life-threatening blood clots. But now, a furious battle is underway among the makers of three newer competitors for the prescription pads of doctors across the country.

 

The manufacturers of these drugs — Pradaxa, Xarelto and Eliquis — have been wooing physicians in part by paying for meals, promotional speeches, consulting gigs and educational gifts. In the last five months of 2013, the companies spent nearly $19.4 million on doctors and teaching hospitals, according to ProPublica's analysis of federal data released last fall.

 

The information, from a database known as Open Payments, gives the first comprehensive look at how much money drug and device companies have spent working with doctors. What it shows is that the drugs most aggressively promoted to doctors typically aren't cures or even big medical breakthroughs. Some are top sellers, but most are not.

 

Instead, they are newer drugs that manufacturers hope will gain a foothold, sometimes after failing to meet Wall Street's early expectations.

 

"They may have some unique niche in the market, but they are fairly redundant with other therapies that are already available," said Dr. Joseph Ross, an associate professor of medicine and public health at Yale University School of Medicine. "Many of these, you could call me-too drugs."

 

Read Full Story here

 

Courtesy - ProPublica.org

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India’s FY17 GDP growth could rise to 7%: Macquarie

‘Overall, we expect GDP growth to pick up from 5.4% in FY15 to 6.5% in FY16 and further to 7% in FY17,’ a Macquarie report said

 

The Indian economy is moving on the right track with efforts to fast track reforms, raising prospects of pick-up in growth from 5.4% in FY15 to 7% by fiscal year 2017, says a Macquarie report.
 
“We believe the Indian economy is moving on the right track towards a cyclical and structural upturn and policymakers have been taking the right steps to improve productivity,” Macquarie said in a research note.
 
“Overall, we expect GDP growth to pick up from 5.4% in FY15 to 6.5% in FY16 and further to 7% in FY17,” it added.
 
FY16 is expected to be a notable year for India with gradual improvement in economic growth and declining inflationary pressures.
 
“We remain optimistic about the ability of the government to undertake structural reforms and improve the productivity dynamics that will help India move to a higher growth path in the medium term,” Macquarie said.
 
 “While using ordinance might be a temporary solution, it reflects the government's commitment towards reforms,” the research note said adding that “the government should work towards building a consensus with the opposition through multi-party dialogues so that critical bills like GST and land acquisition bill could be passed quickly.”
 
 “The government has been taking the right policy steps to implement long pending reforms including energy sector reforms, mainly diesel price deregulation and gas price hike, changes in important labour laws, liberalised FDI in defence and other sectors,” it said.
 

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