Islander
03-13-11, 09:59 PM
JDWolverton
SAT MAR 12, 2011
You know we're on to something when even Fox News decrys an instance of health care price gouging. It's remarkable when the WSJ runs the story without pro business spin. FDA approval of Makena, a drug that stalls premature birth, legally allows KV Pharmaceuticals to price gouge. Weekly injections of progesterone is standard practice to treat women for premature labor. Sometimes, these treatments go on for as long as 20 weeks (1/2) of the pregnancy. Compounding pharmacies mixed up these injections for $10-20 each injection, but some compounders created better solutions than others and the FDA wanted to standardize the drug for safety purposes. It's hard to argue with safety, but KV Pharmaceuticals plans on charging $1,500 per dose for the progesterone drug. Plus, KV Pharmaceuticals isn't known for their safety record. In fact, their rep is quite the opposite. Increasing the price by 75-150 times is mind boggling. The FDA approved Makena via the "orphan drug" law of streamlined FDA approval. Low income and uninsured pregnant women lose.
Ok, the orphan drug law has merit, but giving one pharmaceutical company exclusive rights to sell an orphan drug for 7 years for a condition as pervasive as premature labor isn't in America's best interest. It was however, in the best interest of KV Pharmaceuticals to go after the deal and move on from their past mistakes.
The orphan drug law is good for people with obscure, rare medical conditions, but they and their insurers pay dearly for the relief. It's very good for greed based pharmaceutical financial statements. It isn't good for Medicaid, Tricare, Medicare or any private health insurer and the people who fund those insurers. Some patients appreciate the drugs this law has brought to market, but Makena patients aren't in this group. What is clear, is that the immediate, exponential cost increase is not good for the tax payer, employers or health care policy holders. Meanwhile KV Pharmaceuticals is poised to add billions in annual revenue and their shareholders aren't complaining.
http://www.dailykos.com/story/2011/03/12/955328/-Health-Care-Cost-Control-Fail
SAT MAR 12, 2011
You know we're on to something when even Fox News decrys an instance of health care price gouging. It's remarkable when the WSJ runs the story without pro business spin. FDA approval of Makena, a drug that stalls premature birth, legally allows KV Pharmaceuticals to price gouge. Weekly injections of progesterone is standard practice to treat women for premature labor. Sometimes, these treatments go on for as long as 20 weeks (1/2) of the pregnancy. Compounding pharmacies mixed up these injections for $10-20 each injection, but some compounders created better solutions than others and the FDA wanted to standardize the drug for safety purposes. It's hard to argue with safety, but KV Pharmaceuticals plans on charging $1,500 per dose for the progesterone drug. Plus, KV Pharmaceuticals isn't known for their safety record. In fact, their rep is quite the opposite. Increasing the price by 75-150 times is mind boggling. The FDA approved Makena via the "orphan drug" law of streamlined FDA approval. Low income and uninsured pregnant women lose.
Ok, the orphan drug law has merit, but giving one pharmaceutical company exclusive rights to sell an orphan drug for 7 years for a condition as pervasive as premature labor isn't in America's best interest. It was however, in the best interest of KV Pharmaceuticals to go after the deal and move on from their past mistakes.
The orphan drug law is good for people with obscure, rare medical conditions, but they and their insurers pay dearly for the relief. It's very good for greed based pharmaceutical financial statements. It isn't good for Medicaid, Tricare, Medicare or any private health insurer and the people who fund those insurers. Some patients appreciate the drugs this law has brought to market, but Makena patients aren't in this group. What is clear, is that the immediate, exponential cost increase is not good for the tax payer, employers or health care policy holders. Meanwhile KV Pharmaceuticals is poised to add billions in annual revenue and their shareholders aren't complaining.
http://www.dailykos.com/story/2011/03/12/955328/-Health-Care-Cost-Control-Fail