What would you pay for something that will save your life?
We are about to find out as hedge funds get into pharmaceutical companies.
Charge whatever the market will bear, put those who are the most needed in the squeeze means big bucks for the money lenders. Daraprim is the only drug that the One Percenters have corral,
It is time for a change!
We are about to find out as hedge funds get into pharmaceutical companies.
Drug Goes From $13.50 a Tablet to $750, OvernightNew York TimesThe One Percenters have found and endless source of money… drugs, but this time it is legal drugs.
By Andrew Pollack
September 20, 2015
Specialists in infectious disease are protesting a gigantic overnight increase in the price of a 62-year-old drug that is the standard of care for treating a life-threatening parasitic infection.
The drug, called Daraprim, was acquired in August by Turing Pharmaceuticals, a start-up run by a former hedge fund manager. Turing immediately raised the price to $750 a tablet from $13.50, bringing the annual cost of treatment for some patients to hundreds of thousands of dollars.
“What is it that they are doing differently that has led to this dramatic increase?” said Dr. Judith Aberg, the chief of the division of infectious diseases at the Icahn School of Medicine at Mount Sinai. She said the price increase could force hospitals to use “alternative therapies that may not have the same efficacy.”
Although some price increases have been caused by shortages, others have resulted from a business strategy of buying old neglected drugs and turning them into high-priced “specialty drugs.”
Charge whatever the market will bear, put those who are the most needed in the squeeze means big bucks for the money lenders. Daraprim is the only drug that the One Percenters have corral,
Cycloserine, a drug used to treat dangerous multidrug-resistant tuberculosis, was just increased in price to $10,800 for 30 pills from $500 after its acquisition by Rodelis Therapeutics. Scott Spencer, general manager of Rodelis, said the company needed to invest to make sure the supply of the drug remained reliable. He said the company provided the drug free to certain needy patients.Is this the new trend, squeezing the sick for their blood? How far will unleashed Capitalism go? At one time government was the fulcrum that kept Capitalism in check but not anymore. The rest of the world has reined in on the pharmaceutical companies but here in the U.S. pharmaceutical companies can charge whatever the market will bear.
In August, two members of Congress investigating generic drug price increases wrote to Valeant Pharmaceuticals after that company acquired two heart drugs, Isuprel and Nitropress, from Marathon Pharmaceuticals and promptly raised their prices by 525 percent and 212 percent respectively. Marathon had acquired the drugs from another company in 2013 and had quintupled their prices, according to the lawmakers, Senator Bernie Sanders, the Vermont independent who is seeking the Democratic nomination for president, and Representative Elijah E. Cummings, Democrat of Maryland.
Doxycycline, an antibiotic, went from $20 a bottle in October 2013 to $1,849 by April 2014, according to the two lawmakers.
It is time for a change!





