8 years ago
3
This Drug Company Just Got Caught Jacking Up the Price of a Baby Medicine by 85,000%
This week, drug manufacturer Mallinckrodt Pharmaceuticals settled a lawsuit with the US Federal Trade Commission (FTC) for US$100 million, for engaging in illegal anti-competitive behaviour to ensure its continued monopoly over a life-saving medication for infants with epilepsy. More than a decade ago, Acthar Gel sold for $40 a vial, but since it's been acquired by Mallinckrodt, the price has been raised to more than $34,000 a vial, netting the company more than $1 billion in revenue in 2015.
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$100M fine was totally worth it for the company then.
Exactly. As long as the punishment doesn't fit the crime they can keep treating the fines as cost of doing business.
I agree.And I doubt that will ever happen since they have already bought off the entire government.