Hatch to consider biological generics

Fundamental laws governing pharmaceutical intellectual property rights should be reviewed, and the review should consider the possibility of opening biologics to generic competition, Orin Hatch (R-Utah), chairman of the Senate Judiciary Committee, said Wednesday. Speaking at a meeting of the Federalist Society, a group of conservative and libertarian legal scholars, Hatch said that he will try to negotiate compromises among the biotech, pharmaceutical and generic industries to modernize the Hatch-Waxman Act. The act grants drug companies five years of market exclusivity for innovative products and facilitates the rapid approval of generic versions of off-patent drugs. ...