Comment Re:Because they could't sue the Government (Score 1) 212
How about colchicine? It cost about $8/month. Then, one company did a million dollar study, generally considered to have contributed nothing to medical knowledge, and so got temporary exclusivity from the FDA and suddenly it costs $450 for the same thing.
I guess you consider dosage and drug interaction information to be overrated? You know that neglecting that sort of thing kills people?
Do you want your medicine based on modern science, or the "wisdom" of the ancient Greeks and various hill people?
Oral colchicine had been used for many years as an unapproved drug with no prescribing information, dosage recommendations, or drug interaction warnings approved by the U.S. Food and Drug Administration (FDA).[8] On July 30, 2009 the FDA approved colchicine as a monotherapy for the treatment of three different indications (familial Mediterranean fever, acute gout flares, and for the prophylaxis of gout flares[8]), and gave URL Pharma a three-year marketing exclusivity agreement[9] in exchange for URL Pharma doing 17 new studies and investing $100 million into the product, of which $45 million went to the FDA for the application fee. URL Pharma raised the price from $0.09 per tablet to $4.85, and the FDA removed the older unapproved colchicine from the market in October 2010 both in oral and IV form, but gave pharmacies the opportunity to buy up the older unapproved colchicine.[10] Colchicine in combination with probenecid has been FDA approved prior to 1982.[9
Based on the immensity of the pharmaceutical companies, they aren't exactly losing money.
And some people think thriving businesses can lose money on every sale but make it up "in volume."
