Reuters has published a compelling analysis of ongoing challenges facing pharmaceutical “rogue” Valeant with a focus on its price-inflated drug Syprine and its relationship with also-beleagured pharma company Kadmon. Among other issues, Valeant has been singled out as a prime offender in the realm of hyper-inflated pharmaceutical drugs, with, Syprine, its life-saving Wilson’s disease liver ailment treatment costing some patients nearly $300,000 for a year’s use (in 2011, Valeant priced the drug at less than $1,000 for 100 capsules, a rate that rose by 2015 to over $21,000 for the same dose). [Read more…]
As reported by USA Today, criminal prosecution of those allegedly responsible for the 2012 distribution of contaminated and lethal back pain medication begins this week as the first pharmacy executive involved goes to trial in federal court in Boston. The criminal prosecution follows a federal probe and two years of civil litigation, as hundreds were injured and at least 76 died after contracting fungal meningitis from the contaminated steroid injections. [Read more…]
The Federal Trade Commission (FTC) has made its first outright challenge towards so-called “no-authorized-generics” agreements between branded drug makers and generic drug companies. The agency initiated legal action against Endo Pharmaceuticals Inc. and other drugmakers for making anti-competitive payments through the mechanism of illegally withholding authorization for the production of generic versions of certain drugs. The FTC concludes these pharmaceutical companies violated antitrust laws by blocking lower-cost generic versions of branded drugs from consumers with pay-for-delay payments.