i can't remember now who said it, either sandy weil of citi or jamie dimon of jp morgan, but one of them quipped that " while the music played, one has to dance " when asked in the aftermath of the financial crash of 2008 which brought about the great recession, why do too big to fail banks indulged in such self destructive behavior.
The banks forced each other into a poor business model whereas WPI is acting independently
Not really true - Generic companies have switched to a culture of default At-Risk launches. For instance, in a quick sweep through the last 2 years at WPI there does not appear to be one single instance of WPI delaying a launch upon FDA approval unless their was a regulatory stay, a legal injunction or a prior settlement agreement with the patent holder. I'd estimate that there were about 5 at risk launches in 2010/11 (the rest were long expired or with defunct patents or per pre-agreed settlement terms)
My guess is that WPI (and the generic industry in general) has gotten used to extension patents (i.e. patents where the branded company tried to extend a legitimate patent with tweaks that don't stand up well in court) or have reached settlement in the 30 month regulatory stay period that didn't exist in this instance.
They got used to bluster and thinking that they couldn't lose - exactly the same as happened at the big investment banks.
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