U.S. wants at least $1 billion from drugmakers who delay generics

By David Ingram WASHINGTON (Reuters) – The U.S. Federal Trade Commission seeks a settlement of $1 billion or more from pharmaceutical companies it has sued for delaying the sale of cheaper medicines after patents on brand-name drugs may have expired, an FTC official told a legal conference on Friday. In the settlements, makers of brand-name drugs pay millions of dollars to generics companies while they delay putting their products on the U.S. market. A panel moderator at the American Bar Association’s spring antitrust meeting asked Deborah Feinstein, the director of the FTC’s Bureau of Competition, what developments to expect in the coming year. “The consumer harm there is extremely significant, and so we have a tremendous amount of resources there and hope to come out with a victory one way or another in those cases.” Defendants in the lawsuits include Solvay Pharmaceuticals Inc, owned by AbbVie Inc;