Washington – U.S. Senator Bernie Sanders sent a letter to Catalyst Pharmaceuticals
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The drug, Firdapse, is used to treat Lambert-Eaton Myasthenic Syndrome (LEMS), a rare neuromuscular disorder, according to the letter, made available to Reuters by the senator’s office. The disorder affects about one in 100,000 people in the United States.
The government is intensifying its scrutiny of the pharmaceutical industry and rising prescription drug prices, a top voter concern and a priority of President Donald Trump’s administration.
Both the Democratic-led U.S. House of Representatives and the Senate, controlled by Republicans, have begun holding hearings this year on the rising costs of medicines. Sanders is an independent who usually votes with Democrats.
In the letter dated Feb. 4, Sanders asked Catalyst to lay out the financial and non-financial factors that led the company to set the list price at $375,000, and say how many patients would suffer or die as a result of the price and how much it was paying to purchase or produce the drug.
Catalyst declined to comment on Sanders’ letter.
Catalyst shares fell nearly 8 percent to $2.31
For years, patients have been able to get the same drug for free from Jacobus Pharmaceuticals, a small New Jersey-based drug company, which offered it through a U.S. Food and Drug Administration (FDA) program called “compassionate use.”
The program allows patients with rare diseases and conditions access to experimental drugs outside of a clinical trial when there is no viable alternative.
Florida-based Catalyst received FDA approval of Firdapse in November, along with exclusive rights to market the medication for several years. The company, which bought rights to the drug from a company called BioMarin in 2012, develops and commercializes drugs for rare diseases.
BioMarin and FDA did not immediately respond to requests for comment.
In December, Catalyst announced it would price Firdapse at $375,000 a year.
“Catalyst’s decision to set the annual list price at $375,000 is not only a blatant fleecing of American taxpayers, but is also an immoral exploitation of patients who need this medication,” Sanders wrote in his letter.
Sanders joins other U.S. lawmakers in investigating the pricing practices of pharmaceutical companies this year.
Democratic Representative Elijah Cummings, chairman of the House Oversight Committee, in January wrote to 12 pharmaceutical firms asking for detailed information on how they set drug prices.
Democratic Representatives Frank Pallone and Diana DeGette wrote to the heads of Eli Lilly and Co
This beheime doesn’t understand that there is only one commodity that is free in this world, The air you breath.
Finally that putz is doing something worthwhile
Really? Forcing a company that owns a patent to give it away for free? That’s what Stalin did; look how that turned out. Maybe Sanders can go to his buddy Maduro in Venezuela to strategize together on how to Boycott & Sanction Israel.
Even a broken clock is correct twice a day.
Yes 375k is way too much and exhubarnt. But why isn’t it free you ask? Isn’t that the dumbest question I ever heard. When drugs are under experimental periods it needs to be for free so that it can be tested and perfected. That’s the point. Once it’s not an experiment the company then needs to recoup its losses and costs of years of experimentation with too scientists
As much as I don’t like some of the things this guy usually stands for, he is spot on here. Much of the pharmaceutical industry is out of control, like this example
I am asking how a man once so smart became so stupid?
Anyone have any idea what percentage of pharmaceutical R&D is directly and indirectly funded by the American taxpayer?
There is almost no u.s. patented pharmaceutical product that has not either been partially funded by the government through direct contribution or tax incentives and many leverage prior discoveries and studies funded by taxpayers. Patents incentivize companies to develop technologies to make them available to the taxpayers at a reasonable price.
Isnt this why we have medical insurance, that if you do need this drug, the insurance will pay for it, or you will only be responsible for a flat rate or percentage of it, or some other reduction.
Its like asking why when going to the doctor doesn’t cost you anything, but then he sends you a bill later on. Everything has a price and eventually you need to pay..