And let’s not forget about big Pharma.. Wait till you see this story LOLROTF!.. 😳😧😮😵😜😡😠💩
The drug was invented in Scotland in the 1970s, and has been given away for free by Jacobus pharmaceuticals for 20 years. One need only look at this case to see why medical price caps are essential. Neither individuals nor insurance companies nor the US taxpayer can afford US medical charges. The Canadian system works only because of caps on charges, and not just drug charges. US doctors are gouging too.
The $375,000 would even take a big chunk out of the Catalyst CEO, Patrick J McEnany,’s $900.000 salary. US Senator Sanders explains: “Recently, Catalyst licensed the rights to the drug and received exclusive rights to market Firdapse for seven years under the FDA’s orphan drug designation. In December 2018, Catalyst announced to investors it would set the list price for Firdapse at $375,000 per year”
Catalyst was sued by investors in 2013 for failure to disclose the fact that Jacobus had been giving away the drug for decades for free. They apparently settled.
US Senator “Sanders Investigates a $375,000 Price Spike on Old Drug
In a letter sent Monday to the CEO of Catalyst Pharmaceuticals, Sen. Bernie Sanders (I-Vt.) demanded the company explain its decision to set the price of Firdapse, a drug used to treat a rare neuromuscular disease called Lambert-Eaton myasthenic syndrome (LEMS), at $375,000 per year.