4
Quote
K-V Pharmaceutical Co. said Friday that it would slash the list price of its
new premature-birth prevention drug Makena by 55% after a public outcry over the
treatment's original price tag of $1,500 per shot.
The St. Louis-based company also said it would offer supplemental rebates and
noted that a majority of patients would pay significantly less for each shot.
The response came after K-V became the latest U.S. health-care company to face
scrutiny over medical prices perceived to be too high.
K-V's Ther-Rx unit had initially charged $1,500 per injection of the drug,
given weekly to prevent preterm labor. This sparked a backlash among consumers
and lawmakers because versions of the active ingredient of Makena,
hydroxyprogesterone, have been available since 1956 and were sold for as little
as $10 to $15 per shot.
While the latest price tag—$690 per shot—-is still much higher than the
alternate versions, it is lower than the drug's initial price. One lawmaker
Friday called the action positive; however, K-V's moves didn't satisfy all of
its critics.
[...]
Two Democratic senators had sent a letter to the Federal Trade Commission last month urging the agency to launch an investigation into potentially anticompetitive behavior because of the increase in the cost of Makena compared with compounded products.
Makena was given seven years of market exclusivity when it was approved under an FDA program that grants incentives to companies developing treatments for rare ailments.
http://online.wsj.co...=googlenews_wsj
new premature-birth prevention drug Makena by 55% after a public outcry over the
treatment's original price tag of $1,500 per shot.
The St. Louis-based company also said it would offer supplemental rebates and
noted that a majority of patients would pay significantly less for each shot.
The response came after K-V became the latest U.S. health-care company to face
scrutiny over medical prices perceived to be too high.
K-V's Ther-Rx unit had initially charged $1,500 per injection of the drug,
given weekly to prevent preterm labor. This sparked a backlash among consumers
and lawmakers because versions of the active ingredient of Makena,
hydroxyprogesterone, have been available since 1956 and were sold for as little
as $10 to $15 per shot.
While the latest price tag—$690 per shot—-is still much higher than the
alternate versions, it is lower than the drug's initial price. One lawmaker
Friday called the action positive; however, K-V's moves didn't satisfy all of
its critics.
[...]
Two Democratic senators had sent a letter to the Federal Trade Commission last month urging the agency to launch an investigation into potentially anticompetitive behavior because of the increase in the cost of Makena compared with compounded products.
Makena was given seven years of market exclusivity when it was approved under an FDA program that grants incentives to companies developing treatments for rare ailments.
http://online.wsj.co...=googlenews_wsj
sjsharks.com is the official Web site of the San Jose Sharks. The San Jose Sharks and sjsharks.com are trademarks of The San Jose Sharks hockey club. NHL and the word mark and image of the Stanley Cup are registered trademarks and the NHL Shield and NHL Conference logos are trademarks of the National Hockey League. All NHL logos and marks and NHL team logos and marks as well as all other proprietary materials depicted herein are the property of the NHL and the respective NHL teams and may not be reproduced without the prior written consent of NHL Enterprises, L.P. Copyright © 2011 San Jose Sharks and the National Hockey League. All Rights Reserved.