Yes, the trend to slightly modify existing medicines or their methods of administration is definitely on. But it has been for quite some time really, we are just getting much better at it now. After all, morphine can be extracted from opium, heroin is just a slight modification of morphine, and the hypodermic needle just another route of administration. Combining different drugs is basically the same.
The question for drug companies is this: where do you start looking for new chemical preparations to bring to market? Generally speaking, they look at existing chemical preparations, or other chemical preparations that there is some scientific basis for believing it will have the desired therapeutic effect without intolerable side effects. This common starting point is why we have classes of closely related drugs like all the families of antibiotics, so many benzos and routes of administration, anti-inflammatories that are chemically similar, etc.
As far as the varying routes of administration or other tweaks go, some drug companies specialize in just making a new delivery devices and delivering just about any drug possible with it (Alexza is doing trials with inhalable fentanyl and has inhalable alprazolam and nicotine products in the works). There are fewer barriers to getting small tweaks to existing drugs approved by the FDA than something totally new and alien.
I'm not one to defend the FDA, but they do have an approval process that must be followed. First the drug companies run clinical trials of their therapy and report on these trials to the FDA. Once they have convinced the FDA that these trials have completed successfully they can file a new drug application (NDA).
The FDA will reply to this NDA with either a date for approval to be completed by (a Prescription Drug User Fee Act (PDUFA) date) or a Complete Response Letter (CRL). PDUFA date = drug may be approved soon, CRL = Go to jail. Go directly to jail. Do not pass go, do not collect $200

But just like Monopoly the company can reply to the CRL and try and get a PDUFA date.
The drug company will prepare for the PDUFA date with a business plan that assumes approval while their fate hangs in the balance, or addresses the issues the FDA brought up in any meetings or other correspondence. The FDA can basically ask anything of the drug company or delay approval, demand more clinical trials or other data, or otherwise make marketing this new chemical preparation difficult at any point in time.
It definitely seems like some drug companies are much better than others in working with the FDA to get past any problems and get approval for their new drug or medical device. Is there collusion? Possibly. Or maybe some companies are just better at working with the FDA than others due to having more or better resources for communicating with the FDA and thoroughly replying to the FDA's questions and otherwise addressing the FDA's concerns.
When a PDUFA date arrives the FDA has to approve the chemical preparation, or can issue a CRL and demand more (clinical trials, data, research, changes, etc) from the drug company before the FDA will approve it. This can go on for many, many years and costs drug companies lots of money all along the way. Lots of small drug companies basically blow up when their drug gets a CRL instead of approval, not that it's a bad thing. But this is how the process works in a nutshell. Lots of drugs don't ever get approved. I can talk details if you want, I am into speculative biotech stocks and have made and lost lots of money on drug approvals and CRLs. How much influence a drug company has on the FDA is debatable.
The way intellectual property work now in the USA is total crap. But I'd recommend taking a closer look at what happens with the FDA nowadays, at least half of all drugs that even get PDUFA dates get rejected.