Big Pharma and the Rise of Gangster Capitalism

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$8 per vial in competing developed-world nations and $38,892 in the U.S. That says it all.

By Charles Hugh Smith | 13 July 2018

OF TWO MINDS — Thanks to decades of gangster films, we all know how gangster capitalism works: The cost of “protection” goes up whenever the gangster wants to increase revenues, any competition is snuffed out, and “customer demand” is jacked up by any means available — addiction, for example.

This perfectly describes the pharmaceutical industry and every other cartel in America. You might have read about the price increase in Acthar gel, a medication to treat Infantile Spasms. (via J.F., M.D., who alerted me to the repricing of this medication from $40 in 2001 to the current price of $38,892.)

The compound first received approval in 1950, and various branded versions have been approved in recent years. Let’s be clear: this medication did not require billions of dollars in research and development, or decades of testing to obtain FDA approval; it’s been approved for use for the past 68 years.

Yes, you read that correctly: A medication that’s been in use for 68 years went from $40 a dose in 2001 to $38,892 today. Don’t you love the pricing? Not a round 38 grand, but $38,892. You gotta love these gangsters! […]

1 Comment on Big Pharma and the Rise of Gangster Capitalism

  1. Something i havent seen written on is how heath insurance companies are buying drug companies. UH group has a divison call Optimal RX. They do home infussions. UH Group under Optimal just bought a large sterile compounding company for a 1/2 billion dollars. For in 08 or 08 CVS bought a health insurance company. Gotta love “capitalism”

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