THE LATEST COMPANY WHO HAS A PRICING SCANDALI am a member of an advacacy organization that is joining forces with the National Institute of Health to put pressure on drug pricing. We recently researched pricing practices of a company named Medivation - who is the latest company attacked with a pricing scandal. Medivation shares fell 6.1% yesterday as the scandal comes to the forefront.
We are looking at Concordia's largest considerations first. Donnatal is the largest branded name in the product porrfolio with consideration of 329mm. As a method of comparison Kapvay, Chapred and Ulesfia together are only given $29 mm consideration by Concordia. Donnatal is a generic and there are three patented drugs that treat UBS that are much more expensive. We are also tarketing the manufacturers of these three drugs that are higher who have fewer side effects than Donnatal. It these drugs come down in price, it will force downward pressure for the generics. There are three drugs generic drugs that complete with Donnatal, with one on the FDA roster waiting to be approved. Donnatal is $797 for a 30 day supply. The next generic on the market presently is Amitiza at $327 - less than half of Donnatal's price. This means that Concordia is currently enjoying a position of being the most expensive off-patent drug in the treatement of IBS.
Currently, most IBS patients are frustrated with the lack of safe reliable and effective IBS therapies, and would like to see new options made available to them. The next generic in cue for FDA approval will have a greater impact on the disease because it has the ablity to Prevent Symptoms, and this news will be welcomed by physicans as important in for IBS treatment.