This drug saves Americans from opioid overdoses. Its price has been hiked 600 percent.

[babylonsister]

This drug saves Americans from opioid overdoses. Its price has been hiked 600 percent.
Amid the worst drug overdose crisis in US history, a life-saving drug’s price keeps going higher.
By Dylan [e-mail]@vox.com Nov 19, 2018, 3:40pm EST


Something is wrong: In the midst of the worst drug overdose crisis in US history, the price for a life-saving drug has increased sixfold.

Kaleo has hiked the price of its naloxone drug by 600 percent — from $575 to $4,100 — over the last four years. According to a new investigative report from Sens. Rob Portman (R-OH) and Tom Carper (D-DE), the drug company wanted to “capitalize on the opportunity” presented by America’s opioid crisis. More than 70,000 people died of drug overdoses in 2017.

Thankfully, EVZIO isn’t the only version of naloxone — which quickly reverses the effects of an opioid overdose, saving thousands of lives over the years — available. There is also a nasal spray lay people can use as well as generic versions of the drug.

Still, this is the story of a company that set a debut price twice as high as outside experts recommended. Then, when the market didn’t materialize as it hoped, didn’t course-correct — instead, EVZIO hiked the price even more.

”Kaléo’s more than 600 percent price increase of EVZIO not only exploits a country in the middle of an opioid crisis,” the Senate report states, “but also American taxpayers who fund government-run health care programs designed to be a safety net for our country’s elderly and most vulnerable.”

Drug prices might be one of the few opportunities for compromise between the new Democratic House and the Republican Senate and the Trump White House. Stories like Kaleo’s are sure to spark calls for action, even if it is an outlier in some ways; most price hikes aren’t for treatments that are used in emergencies to save people’s lives.

But in its sensationalism, the tale of EVZIO lays bare many of the challenges for fixing the Byzantine, distorting system that allows a life-saving drug to see its price surge 600 percent during this time of most desperate need.

more...

https://www.vox.com/policy-and-politics/2018/11/19/18103361/opioid-overdose-naloxone-evzio-drug-prices

[blueinredohio]

1. I don't expect Portman to do anything this, he's all for making money however you can.

Whoever gets hurt in the meantime get screwed shouldn't expect sympathy from Portman.

[mucifer]

2. People should be in prison for this. It's murder just like the epi pen it's murder

[Nitram]

3. One reason they think they can get away with the price increase is that it is the Federal and state

government who buy it in quantity. Otherwise the price would put them out of business.

[HopeAgain]

4. End stage capitalism at it's best.

Everyone's making big money, the opioid manufacturers, crooked doctors and clinics and now the Narcan manufacturers. Maybe the funeral homes could get an OD burial surcharge too?

[Honeycombe8]

5. I thought Trump was going to "deal" with pharmaceutical prices?

You mean the savior didn't wave his wand over an EO and do away with outrageous pharma prices? Hard to believe! He's been almost 100% in executing his promises, like building a big wall that Mexico pays for.

[PoindexterOglethorpe]

6. I recall in either a calculus class or a business class,

learning about how to maximize profits, and doing some math related to exactly that. And it was never about charging the absolute most for a product, but finding that sweet spot where you'd make the most sales at a specific price. Clearly these guys failed at calc or business 101 or both.

[stopwastingmymoney]

8. Price elasticity of demand - or similar

The thing is that theory assumes a fair marketplace, not one where your largest buyers have to pay retail by force of law and competition is limited.

[PoindexterOglethorpe]

9. But note that they still aren't selling anywhere near as much of the product

as anticipated.

[ck4829]

7. K&R

[ZeroSomeBrains]

10. K&R

There's no need to make more money when this drug is so vital to keep some people alive.

[area51]

11. Drug price hikes will continue,

as we continue to be a third-world nation, until we decide to join civilization and institute a single-payer healthcare system.

[Initech]

12. Hooray unregulated capitalism!