Monday, July 16, 2018

The Cruel and Unusual Thieves of Big Pharma

Mallinckrodt is hardly the Lone Ranger here.

In 2014 Mallinckrodt raised the price of Acthar further to $34,000. The Federal Trade Commission and attorneys general from five states sued Mallinckrodt for anti-competitive behavior with regard to the acquisition of Synacthen Depot and the monopolistic pricing of Acthar, and in January 2017 the company settled, agreeing to pay $100 million and to license Synacthen Depot to a competitor. According to Kaiser Health News, Mallinckrodt responded by increasing its Congressional lobbying to $610,000, and its contributions to Congress members to $44,000, in the first quarter of 2017.
As an off-patent pharmaceutical, a similar drug, differing in formulation, available in Europe, made by a different manufacturer, sells for $8 per vial.
So a medication to treat infants costs $8 per vial in Europe and $38,892 in the U.S. 

Just before his trip to Europe, Trump had made some noises about body-slamming Big Pharma.

Long overdue.  

Is it "cruel and unusual" to put the CEO of Mallinckrodt in stocks for a month or so?  Because what he has done to parents here is CERTAINLY cruel and unusual 

Seems like a fair trade to me.


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