Senators Want Investigation On Massive Increase In Drug Prices... But Will They Really Seek A Solution?
from the monopolies-are-bad dept
We recently covered the news that the FDA had retroactively granted a monopoly to KV Pharmaceutical on the widely used drug Makena (which is used to prevent premature births). The drug had been sold at $10 per dose, but the second KV got the monopoly, it pushed the price up to $1,500 per dose -- or around $30,000 vs. $200 for a full treatment. The news of this massive price hike certainly got a lot of attention, and now two Senators are asking the FTC to investigate KV Pharmaceutical to see if this is legit. It's nice to see the Senators, Sherrod Brown and Amy Klobuchar, stepping up to express their concern about this, but if they really wanted to make a difference, they shouldn't just be investigating KV. After all, KV is playing by the rules that the US government set up. What they should really be exploring is why we give monopolies on important life saving drugs that create problems like this in the first place?