If you are one of the millions of Americans hooked on any of pharma’s prescription medications, you could one day need a life-saving pharmaceutical injection called. And if such a crisis were to occur to you or one of your friends or family, you’d need $4500 to save your life.
The maker of naloxone, Kaleo Pharma, has jacked up the price of the life-saving injection from $690 to $4500.
According to an article in the LATimes, roughly three dozen senators have complained to Kaleo’s chief executive, Spencer Williamson, saying, “threatens to price out families and communities that depend on naloxone to save lives.”
LA Times writer David Lazarus wrote to Kaleo with a series of questions. He was told through response that the price was “meaningless” due to “backroom deals” via the “health care food chain.”
Most countries don’t allow pharmaceutical companies to price gouge. They cap what companies can charge. Now, this isn’t something I support, being I am libertarian, but it would work better than the structure we currently have in place. But who is the real troublemaker here?
The issue, as I see it, is pharma’s ability to lobby the Government. The FDA has the power to approve competitive products. But they are extremely slow to approve anything. And that leads to “unintended” monopolies. President Trump claims he will look deeper into the FDA, let’s hope that for the sake of everyone, he most certainly does.
The second crime here is that pharma is price gouging a drug that saves the lives of people who are addicted to their drugs. We jail our own citizens for decades for similar actions, yet we reward pharma for them. It’s so ridiculous that it often shocks me how many people are content with the system or just don’t realize it is happening.
If price caps are all we can do, I am all for it. But I’d rather see reform at the FDA level. And I’d like to see pharma subjected to the same consequences as private citizens for harming people with addictive drugs. This is the same industry which fights to keep the marijuana industry down so that it can keep the market open for its line of addictive painkillers.
Wake up everyone; enough is enough.