Drug Price Disgrace

 Posted on September 22, 2015 in General

By Robert Geimer

A 32 year-old former “hedge fund” manager acquired a 62 year-old drug used to treat human infections and jacked the price from $13.50 to $750 per tablet, according to The New York Times.  Only a few years ago, the drug cost $1 per tablet.  But CorePharma acquired it, then Impax bought CorePharma, and the young hedge fund manager purchased it and jacked-up the price to the point where it is essentially unaffordable.  This is not the only example.  A tuberculosis drug was just increased in price from $500 to $10,800 for 30 pills after its acquisition of Rodelis Therapeutics.  We’re all for capitalism and investment in new medicines, but this is ridiculous.  People are going without life-saving medicine while we read about hedge fund managers spending $100 million on Manhattan condos.  An absolute disgrace.

Source:

http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html