Concordia Healthcare Corp. T.CXR.R

Flash from the past......HEADLINES sell papers......

[happyretirement]

National Health Services in UK Stung By Concordia

Canadian pharma group raises price of NHS eye drug 14-fold

Concordia strategy triggers fears over price gouging in UK

Dear Mr. McCrum, this was taken from your article in the Financial Times from last year. 

Concordia Healthcare’s dramatic price rises in the UK include a surge of more than 14-fold
in the cost of eyedrops for bacterial conjunctivitis, for which it is the sole manufacturer.

The steep prices the NHS is being forced to pay highlight a potential flaw in the UK healthcare
system, which normally secures drugs at much lower prices than those paid in the US.

While the price of branded medicines is tightly controlled in Britain, there is less regulation in the
market for generic off-patent drugs as competition between drugmakers generally keeps
costs down.

However, AMCo, a British division of Concordia that had UK sales of about £250m last year, specialises in niche generic medicines where it faces little or no competition from rivals, allowing it to push through sharp price rises.

For example, after fusidic acid eyedrops were acquired by AMCo, the price rose from £2.09 in May 2013 to £29.06 in April 2016, according to the NHS tariff book.
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Since the price of Fusidic Acid Eyedrops for March 2017 in the NHS drug tariff already states
a price of 2906 GBP one would have to surmise that the price is set from the start of each month. 

Concordia did not take possession of AMCo (Cinven) till October 21st 2015 with the price of Fusidic Acid Eyedrops increased from September 1940 GBP to October 2906 GBP so in fact it was AMCo (Cinven) and not Concordia Healthcare that dramaticly raised the price in the UK 14-fold. 

The price has not changed since Concordia purchased AMCo on October 21st 2015, but hey some times the truth doesn't pay the bills and HEADLINES is what really matters..... 

Possibly you should have stated 29.06 GBP at start of October 2015......

JMO