Patients Eagerly Awaited a Generic Drug. Then They Saw the Price. [The New York Times]
VALEANT PHARMACEUTICALS (VRX)
Last valeant pharmaceuticals earnings: 2/28 07:00 am
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Source: The New York Times
Despite efforts by the Food and Drug Administration to encourage more competition for drugs that have no generic alternatives, companies like Teva will still charge as much as the market will bear as long as there is no significant competition. And even companies that come under intense criticism, like Valeant, can often neutralize consumer upset through assistance programs. While those can lower out-of-pocket costs for patients, the programs stick insurers with the bulk of the bill, which in turn can be passed on to consumers through higher premiums and deductibles. Jay Copeland, 59, has been taking Syprine for a decade to treat Wilson disease, a condition that causes copper to build up in the body, leading to organ and neurological damage if not treated. Calling the generic price “incredibly punitive,” Mr. Copeland said his employer’s insurance shields him from most of the drug’s cost, but he worries what would happen if he were to lose his job. Teva’s slightly lower price,
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