Is there a generic version of Glumetza?
Officials with the FDA have approved Glenmark Pharmaceuticals’ Metformin Hydrochloride Extended-Release Tablets USP, 500 mg and 1000 mg, the generic equivalent of Glumetza® Extended-Release Tablets, 500 mg and 1000 mg (Salix Pharmaceuticals).
Who manufactures glumetza?
Canadian drugmaker Biovail Corp has received preliminary approval from the US Food and Drug Administration for two dose-strength preparations of its anti-diabetes drug Glumetza (metformin hydrochloride).
Do drug patents expire?
Drug patents are good for 20 years after the drug’s invention. In most cases, this time frame is halved to 10 years after testing finally brings the drug to the marketplace. Patents are typically awarded within a few years after the patent application submission.
What happens when a drug patent expires?
When a drug’s U.S. patent expires, manufacturers other than the initial developer may take advantage of an abbreviated approval process to introduce lower-priced generic versions. In most uses, generics are clinically equivalent to the original branded drug. Average drug prices dropped after expiration.
Why is glumetza so expensive?
Glumetza®: A long-acting version of the drug metformin, which is used to control high blood sugar in patients with type 2 diabetes, Glumetza® has increased from $12 to $111 per tablet over the course of three years. The result of this price increase is a daily medication with a shocking 800 percent increase.
What is the difference between glumetza and metformin?
Metformin ER is the extended-release form of metformin. It is also known by the brand names Glucophage XR, Glumetza, or Fortamet. Metformin ER lasts longer than regular metformin and has less side effects. It is prescribed once daily with an evening meal.
What is the generic name for Glucophage?
Metformin is available under the following different brand names: Glucophage, Glucophage XR, Fortamet, Glumetza, and Riomet.
Why do patents expire after 20 years?
A utility patent typically expires 20 years from its earliest effective non-provisional U.S. filing date. Sometimes, the patent office extends the term because of patent office delays in processing the application, or because of FDA delays in approving the patented product.
How long is a patent good for?
20 years
A U.S. utility patent, explained above, is generally granted for 20 years from the date the patent application is filed; however, periodic fees are required to maintain the enforceability of the patent.
Is brand Glucophage still available?
The Glucophage XR brand name has been discontinued in the U.S. If generic versions of this product have been approved by the FDA, there may be generic equivalents available.