Why is the FDA creating monopolies in circumstances like this?
They've taken a drug that was first introduced in 1956, "approved" it, and given one company exclusive rights to make it. As a result, the cost for this drug, which is used to prevent premature births and has been in use for years, has risen from 10 to 20 dollars, to 1500 dollars PER DOSE.
This would seem to be yet another clear and graphic illustration why Republicans look at the FDA as a prime place to start cutting the budget.
Bub, I must assume you didn't read the sources. The drug was introduced in 1956. The company given exclusive rights to make it now didn't even exist then. There was no research, no testing, no nothing done by them to get this drug on the market. The only costs incurred by them was to set up the inexpensive process to make it. This is pure price-gouging by a company sanctioned by the Federal government.
- Anonymous1 decade agoFavorite Answer
Monopolies cannot occur without the force of government to restrict competition. Very, very important point you make.
- BubLv 51 decade ago
If you want a drug industry that is interested in making medicine before profits, you are more than welcome to vote socialist next election.
For now, of course it's about making money. The company that made the stuff and invested in it deserves the fruits of their labor. Generics will eventually be able to produce the drug, but until then the company needs to recoup their losses in research, development, and marketing.
Edit: "But recently, KV Pharmaceutical of suburban St.Louis won government approval to exclusively sell the drug, known as Makena (Mah-KEE'-Nah). The March of Dimes and many obstetricians supported that because it means quality will be more consistent and it will be easier to get."
Sounds like a win. Don't want to pay for it? Then get it mixed and take a gamble.
- LibertyLover101Lv 51 decade ago
Government creates monopolies. Not the free market. Competition is always best.