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March 14, 2011 05:44 pm PDT
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/jnnlnCRkIsQ/10-drug-becomes-1500.html
$10 drug now $1500 after FDA grants monopoly
A progesterone hormone injection, used to prevent preterm labor, 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....
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/jnnlnCRkIsQ/10-drug-becomes-1500.html
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