Detailed text transcripts for TV channel - CNN - 20100316:02:04:00
Generic biologics, which would bring the costs of the drugs down. to do that, the president wanted to give brand biologics exclusive rights for seven years before cheaper generics could enter the market. but the pharmaceutical industry lobbied for more, 12 years, and prevailed. their argument -- development takes an average of 12 years and $1 billion plus. >> if we want people to invest in new cures for cancer and for diabetes and for aids and all of that, then you have to make sure that they're going to have some chance to get their return on their investment. >> reporter: and keeping them ho...