The Feds finally make a move on soaring drug prices

[Yo_Mama_Been_Loggin]

Federal and state prosecutors delivered an unmistakable shot across the bow of the U.S. pharmaceutical industry this week amid mounting concern that soaring drug prices are posing risks to the health of many Americans and blowing a hole in the budgets of federal and state health care programs.

Two of the worst offenders, Valeant Pharmaceuticals International and Turing Pharmaceuticals, were presented with subpoenas or letters by prosecutors investigating their pricing practices and other aspects of how they do business

During a Senate hearing last summer, Sen. Claire McCaskill (D-MO) questioned former Valeant CFO Howard Schiller about the company’s February 2015 decision to increase the price per vial of Isuprel, a drug used to treat cardiac arrest, from $215 to $1,346. That same month, Valeant boosted the price of the Nitropress, a blood pressure medicine, from $257 to $805 per vial.


Last month, Hillary Clinton called out Turing for boosting the cost of Daraprim, an older drug used to treat infections, from $13.50 to $750 a pill. Donald Trump called the company’s 32-year-old CEO, Martin Shkreli, a “spoiled brat.”

Now the eye-popping markups in the price of both old and new drugs is drawing intense interest from federal and state prosecutors. The controversy is turning into a perfect storm for the drug industry, with both politicians and state and federal prosecutors demanding justification for their drug pricing policies.

“I think what’s happened is that some of these companies … in a remarkable feat of poor political timing stuck their heads way, way out of the foxhole and raised prices seemingly unaware that we’re in the midst of a presidential election where there’s a lot more sensitivity about all of these things,” Joseph Antos, a health care specialist with the American Enterprise Institute, said in an interview on Thursday.

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http://www.msn.com/en-us/money/markets/the-feds-finally-make-a-move-on-soaring-drug-prices/ar-AAfw3Sw?li=AAa0dzB

[femmocrat]

1. Thank you, Senator McCaskill!

[Skittles]

2. Mr. Antos calls it "poor political timing"

W.T.F.

there's SOOOO much wrong with that statement

[irisblue]

3. right wing think tank shill

Antos will never have to worry about health insurance

[lpbk2713]

4. Martin Shkreli may not realize it but he did us a favor.

His collossal greed brought attention to where it was desperately needed.