RE:RE:RE:RE:odds of developing a drug to commercial stage 5000-1I would be shocked if we don't see news very shortly that Concordia is the target of an investigation by the CMA in the UK. It was already disclosed in an article that Jeremy Hunt, the health minister, has sent the evidence uncovered by the Times to the CMA. With such huge public backlash and trending mainstream media articles it will put huge pressure on the CMA to act. The threat of fines and price rollbacks will take off some serious market cap. The next week should be very interesting.
GenericAdvocate wrote: TraderBen, While I have been concentrating on how Concordia is jacking up prices on their North American drugs, I found this action in the article you put up scummier than what Valeant did !!! And then they say its a new drug launch? This will be added to all the class action suits that Concordia has against them if it hasn't been already. Unbelievable!
" ...Manchester and Lincolnshire issued separate documents highlighting sharp increases in the price of old drugs after a new drug company acquired them and dropped existing brand names.
Price rises have led to the NHS encouraging doctors to take patients off at least one drug, the thyroid treatment liothyronine. Its price has risen from 16p to £9.22 per tablet, including from £1.23 per tablet three years ago, and a typical patient takes at least one or two tablets a day.
The drug has a single supplier, AMCo, which has said the product is “incredibly difficult to manufacture” and needs significant investment to en-sure a steady supply. A spokeswoman for AMCo, now known as Concordia International, did not respond to a request for comment on the legislation."