[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Who Is Bill Gates? (Full Documentary, 2020)

Here Is What Republican Voters Really Believe in. It's a Shame the GOP Has No Idea

guTTing america ... going back --- on Track

“The ElecTion is Over”... Trump HaTer Cindy McCain Trashes Arizona ElecTion AudiT ---“Ludicrous” (VIDEO)

DissidenT Episcopalians awarded $100 million worTh of property ... as U.S. Supreme CourT --- declines To Take up Fort WorTh case

Joe Biden needs to stop lying about the cause of the border crisis and start fixing it

George W. Bush says ... The Republican ParTy has a shoT aT fuTure elecTions if iT curbs --- iTs 'whiTe Anglo-Saxon ProTesTanTism' ( heriTage )

BREAKING EXCLUSIVE - TGP’s Jordan Conradson InTerviews AZ AudiT DirecTor Ken BenneTT — HUGE DEVELOPMENTS ... Including Plans To Triple OuTpuT --- QuesTions on Number of FraudulenT BalloTs (VIDEO)

Can Democrats Avoid a Wipeout in 2022?

Biden declares war on America -- literally

Former Trump assisTanT says ... 'freighT Train' of elecTion resulT audiTs coming --- 'The MAGA movemenT is demanding answers'

Tim Scott's 2024 Star Rises After Biden Rebuttal

“We Will Find MisTakes – IrregulariTies ... We Probably Are Going To Find OuTright Fraud” --- AZ GOP Chair Dr. Kelli Ward Give - UpdaTe on HisToric AudiT (VIDEO)

Australia security official warns nations are ‘beating drums’ of war amid Asia-Pacific tensions

Former Obama White House advisor Seth Andrew arrested, accused of stealing from charter school he founded

This is fo sucking funny ... Joe has no clue --- The dumbocrap leaders are in a hearT aTTack panic!!.

The voter suppression lie

War Room ... Rachel Maddow Is Worried abouT whaT AZ ElecTion AudiT will Find — She Knows Georgia Is NexT

Conspiracy Queen Rachel Maddow ... Panics Over --- ‘Dangerous’ Arizona Vote AudiT

‘True To iTs docTrine’ ... ConservaTives plan for a new church afTer UniTed MeThodism spliTs --- over homosexualiTy debaTe

Michael Eric Dyson - WhiTe People Can Help BLM ...by Holding RacisT RelaTives --- ‘To AccounT’ aT Thanksgiving

Derek Chauvin ... The GreaT --- WhiTe DefendanT

New Mexico state trooper executed by Mexican cartel member… Horrific Video

John Kerry in Earth Day wonderland

Democrats Are Cheaters

Derek Chauvin's FaTe ... Is Now in The Hands --- of The Jury

Fools' overture

Democrats Are Terrified of Georgia

Climate Media vs. Climate Science

Why We Black Leaders Support Voter ID Laws

Pelosi: ‘No Plans' to Bring a Court-Packing Bill to the House Floor – at This Time

B-1 Bombers Are Deploying To Norway For The First Time With An Eye On Nearby Russia And The Arctic

High School Coach Fired After Refusing To Enforce “Insane” Outdoor Masks During Sports

CNN Says Chinese-Style Fonts Are Racist

Gran Torino Denounced for Anti-Asian Racism

'It Is Still Not Safe To Go Outside,' Says Fauci's Head In A Jar In Year 2739

Biden Re-Ignites the Waco Fire

Over 500 White People Have Been Killed By Cops Since 2020. There Has Been No Rioting Over Those Deaths.

Buttigieg on Exaggerated Infrastructure Jobs Estimate: ‘I Should Have Been More Precise’

Videos - ChrisTians Tear Down MeTal Fences ... Denounce The Closure Of GraceLife Church --- Due To A COVID-19 ResTricTions

Pete BuTTigieg ... To evangelical vaccine hold-ouTs --- Maybe iT's parT of God's plan

TINHORN FLATS ... The Symbol of Modern Day America --- AgainsT Tyranny

This Trial is a ToTal sham ... The enTire power of The sTaTe - media - lefT-wing shock Troops - counTry's finesT legal TalenT ... is being deployed againsT Derek Chauvin.

A few billionaires currenTly have The power To decide ... ThaT some Americans’ speech righTs are more sacred Than oThers --- Clarence Thomas offers a remedy.

Biden Defense Secretary Orders Several “Immediate Actions” to Weed Out ‘Extremism’ in the Ranks

Target selling book that includes prayer to 'hate white people' in 'Religion' section

America is losing its religion — and the effects will be long-lasting

Conservative Grassroots Begin to Take Back Wisconsin

Ron DeSantis Is What the Post-Trump GOP Should Look Like

White House pushes back on conservative argument over Georgia, Colorado voting laws amid MLB dispute


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: FDA changes drug review rules to challenge Martin Shkreli-like medicine monopolies
Source: RT
URL Source: https://www.rt.com/usa/335741-fda-drug-monopolies-shkreli/
Published: Apr 9, 2016
Author: Srdjan Zivulovic
Post Date: 2016-04-09 21:55:42 by U don't know me
Keywords: None
Views: 123

FDA changes drug review rules to challenge Martin Shkreli-like medicine monopolies Published time: 16 Mar, 2016 02:59 © Srdjan Zivulovic / Reuters

The US drug regulator is paving a fast-track for generic remedies to market while also sealing a loophole, used by pharmaceutical executives like Martin Shkreli, to profit from jacked-up prices on exclusive medicines.

The Food and Drug Administration (FDA) is now granting an “expedited review” to generic drugs producers that would compete with brand-named treatments, currently produced by only one manufacturer.

The new rule is going to make an approval process faster for off-patent producers, which potentially means that exclusive drug makers will face increased competition sooner and might be toppled from their monopoly position, largely exploited to hike up prices for life-saving drugs.

According to FDA estimates, the change in prioritization could expedite reviews of as many as 125 generic drug applications, Sandy Walsh, an agency spokeswoman, told Bloomberg.

The FDA’s amendment comes amid the nationwide outrage over price gouging, recently exemplified by Martin Shkreli and the company he formerly owned. Under Shkreli as CEO, Turing Pharmaceuticals raised raised the price of Daraprim, a drug essential for HIV treatment 5,500 percent, from $13.50 to $750 per pill in just over a month last fall.

With the price increase, some patients received $16,000 co-pays for a single prescription, according to Ars Technica.

Daraprim’s price increase scandal was not Shkreli’s first time facing controversy. Having earned himself the title of “most hated man in America”, Shkreli was arrested on for securities fraud in December, which was not related to his raising the price of life-saving pills exponentially, but rather to his time at a hedge fund.

Prosecutors accused him of illegally taking stock from Retrophin, Inc. to pay off his personal debts from unrelated business dealings as a hedge fund manager for MSMB Funds. In 2011, he started Retrophin and acquired old drugs in order to raise their price.

Retrophin sued Shkreli in federal court for $65 million, accusing him of misusing the company’s assets, including its stocks and cash, "to enrich himself, and to pay off claims of MSMB investors (who he had defrauded)," the lawsuit said.

The FDA’s new rule may also thwart business of Valeant Pharmaceuticals, another manufacturer upped its blood pressure treatment’s price over 600 percent last year.

The high blood pressure drug Nitropress’ price shot up 625 percent to $1,346.62 per vial. Isuprel, a heart medicine, went up 820 percent, costing $36,811 for 25 pills. Cuprimine, a rheumatoid arthritis capsule, jumped 2,949 percent in price to $26,189 for 100.

Post Comment   Private Reply   Ignore Thread  


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com