Imatinib, a cancer drug sold under the name Gleevec by Novartis, is a life-saving and life-prolonging medication. The question for many patients, however, is: how much are they willing to pay to prolong their lives, and how much profit a company can make from one medication before it becomes immoral. [More]
Drug giant Pfizer will have to squirt out $60 million in order to settle allegations from the feds that it bribed foreign companies, violating the Foreign Corrupt Practices Act, which forbids companies from making deals by paying off foreign officials.
Investigating allegations that several drug distributors are buying scarce drugs and reselling them at massive profit to hospitals, a member of the House Oversight and Government Reform Committee has started an investigation. The congressman has requested documentation of what the distributors paid for the drugs and the amounts at which they’re reselling them.
Twelve doctors at Stanford University Medical School are under investigation by the school’s disciplinary board after their names cropped up in a database of docs getting paid big bucks by pharmaceutical companies for speaking gigs, a violation of school policy.
If you want to make a lot of money, invent a drug that treats chronic conditions without ridding patients of symptoms entirely. Your customers will be on the hook for your product for the rest of their lives, boosting your bottom line all the while.
Reddit user TheKarateKid says he emailed a major drug company asking why their $500 version of a $10 generic is worth the $490 markup. The drug company rep accidentally emailed the customer back this message intended for her colleague.
The Chinese poison train makes plenty of stops outside of the United States. When those stops are in developing countries, bad things can happen. Even worse things happen when dangerous products from China are intentionally mislabeled as being from another country. Say, India.
Back in April, reader B. e-mailed the Consumerist tipline about a change to his health insurance plan’s prescription drug schedule. It raised a drug that he’s taken for years, the generic version of Prozac, to a different schedule—more than tripling B.’s co-pay, from $8 to $25.
Starting January 1, drug companies will implement a voluntary moratorium on branded goodies from drug companies.
In other news, Democratic control of Congress cured our dyspepsia. — BEN POPKEN