Portal Login:
  • Clients
  • Providers
  • Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer
    Portal Login:
  • Clients
  • Providers
  • About MCN
  • Careers
  • MCNTalk
  • Contact Us

MCN | Medical Consultants Network

The Power of a Second Look

  • Services
    • Independent Medical Examinations
    • Medical Peer Reviews
    • Bill Review Services
    • Utilization Reviews
  • Expertise
    • Short and Long-Term Disability
    • Workers’ Compensation
    • Auto/PIP/Casualty/Liability
    • Independent Review Organization Services
  • For Clients
  • For Providers
  • Your Exam
    • About Your Exam
    • About Your External Review
    • Contact & Scheduling
  • Schedule Now
  • About MCN
  • MCNTalk
  • Careers
  • Contact Us

MCNTalk
News, Insights & Opinions

Home / MCNTalk / The Price is Right? Wrong!

September 25, 2015

The Price is Right? Wrong!

by Jen Jenkins, Market Analyst

The most recent case of a pharmaceutical company exorbitantly raising the price of an otherwise inexpensive drug has brought certain “Big Pharma” issues careening back into the spotlight. Turing Pharmaceuticals acquired a 62-year-old drug called Daraprim back in August. This drug, used mainly to treat a rare parasitic infection in patients with compromised immune systems such as babies, or adults with AIDS/HIV and cancer, originally rang in at $13.50 a tablet; that is until Turing acquired it and the price per tablet soared to $750. More attention is typically bestowed upon the high prices of new drugs, but this particular situation brings to light an evolving issue of mind-boggling price increases in drugs that have been around a long time and are mainstays in certain types of care.

A huge concern with these increases is that hospitals are more likely to turn to alternatives that may not prove as effective. Although high prices are known to happen within the industry due to shortages, the cases described here are happening merely due to business strategy. Other examples, just to name a few, include a drug called Cycloserine, which increased from $500 for 30 pills to $10,800; also, just last month two members of Congress investigated another incident where two separate heart drugs, Isuprel and Nitropress, were acquired by Valeant Pharmaceuticals and subsequently raised in price by 525% and 212% respectively.

The 32-year-old founder and chief executive of Turing explained the recent price hike away by saying it is now more in line with other drugs that treat rare diseases and that most patients use the drug for far less than a year anyway. The sad truth of it all is that the CEO’s unapologetic response to the backlash of the situation is far from unusual, as is the fact that his drug company is only one of many that has and will continue to unconscionably inflate prices.

Read about this  in further detail in these New York Times and Washington Post articles.

Share this:

  • Twitter
  • Email
  • More
  • Facebook
  • Reddit
  • Print

Tagged: Cost Containment, Health Policy, Legal Issues, The Practice of Medicine 1 Comment

Previous Post
Next Post

Reader Interactions

Comments

  1. Richard Bensinger, MD says

    September 30, 2015 at 4:34 pm

    There is a drug in my ophthalmic chair side supply: 2.5% phenylephrine – used to help dilate pupils that I have bought for 25 years for $8.00 per bottle. Four months ago, got the new “improved” pricing — $156.00 per bottle. Nothing has changed – just greed run amuck.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Recent Posts

  • The Quality Divide: What Makes a Quality IME Physician?
  • The Quality Divide: Is Your Vendor Driving IME Excellence?
  • The Quality Divide: When and How to Request an IME?
  • April Clinic Calendars Are Available
  • MCN’s Client Portal Login Page is Changing

Archives

Footer


  • Twitter
  • LinkedIn

Quick Links

  • Services
  • Expertise
  • About MCN
  • Careers

Division Headquarters

MCN
1200 5th Ave., Ste. 650
Seattle, WA 98101

See all offices

Email Us

General Inquiries: info@mcn.com
Sales & Marketing: marketing@mcn.com

Call Us

206.343.6100
800.248.6269

© Copyright 2023 Mitchell International, Inc. All Rights Reserved.

  • Privacy Policy
  • Sitemap