Valeant and Turning posterchilds for Generics importance..Both companies looked for cheap drugs that had some moat protection and jacked up prices.. This has back fired hugly ...Turing CEO was arrested, on un-related charges of fraud, and VRX CEO has vacated his position with health issues ... Now the fiasco with these two companies is turning into a political football in the USA... All of this will help the Generic drug Industry, and low cost producers like NPH...
An interesting and comical side note on Turing is that the CEO Martin Shkreli paid $5 million for rights to the the niche off-patent (but still with no generic competitor out) drug Daraprim (treats a parasitic infection in patients with weak immune systems) .. The drug was selling for $13.50 per pill and he raised the price to $750 per pill immediatly.... The problem is that he apparently forgot the drug was a generic compound, made out of generic compoenents, and soon after experiencing public outrage over his price increase, a compounding company in San Diago (company that does customizing of drugs far patients with unique needs) took the active ingredient used in Daraprim and combined with another generic drug to basically make a similar but slightly different compound, and has offered it for $0.99 per pill.... and some big US health insurers have came out and approved it for insurance .... so $750 vs $0.99 for the same drug ... I would say Turing and the CEO got what he deserved...the guy has no consious for patents well being at all and was completely exposed with this..The selfishness of some in the healthcare industry is sure improving the landscape for generics companies as we speak...