by Mike Masnick
Mon, Mar 21st 2011 9:30am
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?
If you liked this post, you may also be interested in...
- Defense Contractor Shkrelis The US Government By Jacking Up Prices On Sole-Source Components
- Guy Who Wants Everyone To Believe He Created Bitcoin, Now Patenting Everything Bitcoin With An Online Gambling Fugitive
- Supreme Court Says Patent Trolls Can Wait A While Before Suing
- FDA, KV Pharma Bend A Bit To Public Pressure; Lower Makena Costs, Allow Competing Drugs To Remain... For Now
- Retroactive Drug Monopoly Raises Rates From $10... To $1,500