$10 drug now $1500 after FDA grants monopoly

[TVC_H4U]

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http://www.boingboing.net/2011/03/14...omes-1500.html

Progesterone, a hormone injection used to prevent preterm labor in pregnant women, used to be $10 a shot. Now that the FDA has assigned an exclusive right to create the easily-made formula to one company, KV Pharmaceuticals, the price has risen to $1500. Almost all of it is pure profit, and KV Pharma did not develop the drug or pay for its trials: the taxpayer did, via the National Institute for Health. It is said to be the only drug proven to prevent pre-term birth, and an expert cited by ABC News suggests that the profession was snookered into supporting the assignment as a quality standardization measure.

It makes you proud! No?

[heyadrian]

Progesterone <-- don't women get that free off the NHS for HRT anyway?

[TVC_H4U]

No Idea. Though "free" does not exist and we pay via tax's and national debt.

[heyadrian]

That's true, the US dont have a "NHS" as to put it, all they have is Medicaid which only deals with things like a sneeze and a cough lol

In that sense, I don't mind paying tax here as we do get things in return for our money. Some are benign as various moneygrabbers just trying to jump on the band-wagon.

[TVC_H4U]

NHS is brilient not used it in a long time, so im not getting my "monies worth" but thats what makes it affordable.
Imagine though, the amount of money we could be burning due to this, carn not go stop giving medicine because its increased in price.

I do hate that medicine costs so much, then I remember money makes the world go round and they need money to develop new medicines.
A big conflict in my nominally pro-capitalist mind.

[Jonathan]

If I was the government/PM/whoever makes those descisions I'd ban the drug until they lowered the price and encourage other leaders to do the same, that would make them think twice, as if they don't have any customers buying the drug then the company will die. Same goes for banks, and companies like Serco.

[gazza-911]

Jon, although I kind of agree with you, if you did that, they would not profit and stop producing it, = no prevention (and possible illegal use of the drug), also less money for them = less money spent = less money circulating in the system = less money for us (and government) = higher taxes to compensate for low government budget = even more less for us to spend, ect, you get the picture! What should be done is the decrease in military + friendlier associations with foreign countries (so we don't have to worry about the military + dragons den x10 (investors)