7 ms·

US drugmaker raises price of vitamins by more than 800%

13 points by marban 9y ago

ryanmerket 9y ago
Is it possible to import vitamins?
- akkat 9y ago
  The article (at least bob_theslob646 unpaywalled version) says that you can buy one kind online for $5 for 100 tablets. However it is not FDA approved so it is riskier.
  - Turing_Machine 9y ago
    "Riskier" how?
hu3 9y ago
paywalled
mtgx 9y ago
This is what you get when the U.S. government gives more and more monopoly power to Big Pharma (through patents and other means), restricts generics, and bans imports. https://hbr.org/2017/04/how-pharma-companies-game-the-system-to-keep-drugs-expensive https://hbr.org/2017/04/how-pharma-companies-game-the-system... https://www.sciencedaily.com/releases/2016/08/160823124857.htm https://www.sciencedaily.com/releases/2016/08/160823124857.h... https://www.ncbi.nlm.nih.gov/pubmed/27552619 https://www.ncbi.nlm.nih.gov/pubmed/27552619
- foolrush 9y ago
  This is what happens when your government is weak and has been infiltrated with lobbyists that represent the very companies they should be protecting you from. FIFY.
  - Turing_Machine 9y ago
    No, this is what happens when the government is too strong. To expand a bit, what is going to prevent your new "stronger" government from getting captured by the very same lobbyists, except now they'll have even more power to distort and manipulate the market? In this specific case, the fundamental problem appears to be that only one company has jumped through the FDA hoops (which can cost billions) to sell "prescription" niacin. How is piling even more regulation on top of that going to make the problem go away?
    - foolrush 9y ago
      Right. So what exactly do you think happens when you take the referee out of a UFC match? The core idea of governance is not the issue, which is somewhat buried beneath the idea that "government is too large" hints at. Ultimately, the problem is cultural, ethical, and contextual. In this case, later era capitalist "market drives everything". Everything is a market. Everything a transaction. Including how to sway politicians. As a counterpoint, in Canada our government has regulated against[1] these sorts of issues. We aren't an ideal by a long shot[2][3], but we sure as hell value it when our government leans on corporate entities. I believe the same happened in the EU with regards to cellular roaming? [1] http://pmprb-cepmb.gc.ca/home http://pmprb-cepmb.gc.ca/home [2] Unironically it was a conservative "free market" government that landed us in this pickle. [3] https://www.theglobeandmail.com/opinion/canada-must-and-can-take-control-of-drug-prices/article34999078/ https://www.theglobeandmail.com/opinion/canada-must-and-can-...
      - deleted 9y ago
        [deleted]
      - Turing_Machine 9y ago
        > Right. So what exactly do you think happens when you take the referee out of a UFC match?" There's no longer any "referee" to bribe? The fans get to vote on the winner in a free market? > Everything is a market. Everything a transaction. Including how to sway politicians. The less power politicians have, the smaller the return on buying them. And vice versa. > We aren't an ideal by a long shot[2][3], but we sure as hell value it when our government leans on corporate entities. There is essentially zero drug development in Canada. Have you ever wondered why that might be? Do you think it might be a problem (for Canada) if the same policies were applied in the U.S.?
bob_theslob646 9y ago
If you want to read the article. Plug this article into google translate. Otherwise you need a subscription from the FT https://www.rbc.ru/society/10/12/2017/5a2d310f9a794763beb12377 https://www.rbc.ru/society/10/12/2017/5a2d310f9a794763beb123... For non-subscribers, hear you go. ______________________________________________________________________________________________________________________ > American drug manufacturer Avondale Pharmaceuticals "raised the price of vitamins" Niacor "by 809%, to $ 295 per package," writes the Financial Times . This is the only medicine containing niacin (vitamin B3), which can be bought by prescription. Last month, one package of vitamins per 100 tablets cost $ 32.46. The medicine containing niacin can be bought in online stores for $ 5, but it is not certified by the US Health Department - the Office of Sanitary Supervision for Food and Drug Administration. "Avondale took advantage of the strategy of businessman Martin Shkrely:the company bought the rights to the medicine from Upsher Smith, the American unit of Japanese Sawai Pharmaceutical, being the only producer of the drug, and sharply increased the price." How many times must this happen before the government gets involved?
- chinathrow 9y ago
  Congress is involved - many congressmen and women are walthy enterpreneurs. Not a single one of those would love to cut into their business friends margins, I guess.
revmoo 9y ago
Don't post paywall content
ghthor 9y ago
Can't I still buy niacin that isn't "Niacor" for the same low-ish price as a non-perscription vitamin?
- Turing_Machine 9y ago
  Yes, of course you can.
tzs 9y ago
Why would one need a prescription form of niacin as opposed to the niacin that is avilable in most common over the counter multivitamins? For example, I take two Flintstone Completes each day, which provides 150% of the RDA of niacin. Is this only meant for people who have some condition that requires a much larger than normal dose? As far as buying from those online sources that are $5 for 100 tablets but are not FDA certified, niacin is also available from many of the supplement makers that sell in brick and mortar stores, like Rite Aid, CVS, Walmart, etc. Those brands cost more than the cheapest online-only brands, but might be more reliable, and can also be found online fairly cheap. Nature's Bounty brand niacin supplement, for example, is available via Amazon at $24 for 240 500 mg tablets (2000% RDA). It should be noted that there are at least four different forms of niacin supplements avilable. • nicotinic acid • nicotinic acid combined with agents to slow its release • nicotinamide • inositol hexanicotinate I think the Niacor is the first form. The Nature's Bounty supplements are the fourth form. Here's an article that explains how the forms differ biologically: https://www.crnusa.org/sites/default/files/files/resources/13-CRNVMS3-NIACIN.pdf https://www.crnusa.org/sites/default/files/files/resources/1...

13 points by marban 9y ago

ryanmerket 9y ago

Is it possible to import vitamins?

akkat 9y ago
The article (at least bob_theslob646 unpaywalled version) says that you can buy one kind online for $5 for 100 tablets. However it is not FDA approved so it is riskier.
- Turing_Machine 9y ago
  "Riskier" how?

hu3 9y ago

paywalled

mtgx 9y ago

This is what you get when the U.S. government gives more and more monopoly power to Big Pharma (through patents and other means), restricts generics, and bans imports. https://hbr.org/2017/04/how-pharma-companies-game-the-system-to-keep-drugs-expensive https://hbr.org/2017/04/how-pharma-companies-game-the-system... https://www.sciencedaily.com/releases/2016/08/160823124857.htm https://www.sciencedaily.com/releases/2016/08/160823124857.h... https://www.ncbi.nlm.nih.gov/pubmed/27552619 https://www.ncbi.nlm.nih.gov/pubmed/27552619

foolrush 9y ago
This is what happens when your government is weak and has been infiltrated with lobbyists that represent the very companies they should be protecting you from. FIFY.
- Turing_Machine 9y ago
  No, this is what happens when the government is too strong. To expand a bit, what is going to prevent your new "stronger" government from getting captured by the very same lobbyists, except now they'll have even more power to distort and manipulate the market? In this specific case, the fundamental problem appears to be that only one company has jumped through the FDA hoops (which can cost billions) to sell "prescription" niacin. How is piling even more regulation on top of that going to make the problem go away?
  - foolrush 9y ago
    Right. So what exactly do you think happens when you take the referee out of a UFC match? The core idea of governance is not the issue, which is somewhat buried beneath the idea that "government is too large" hints at. Ultimately, the problem is cultural, ethical, and contextual. In this case, later era capitalist "market drives everything". Everything is a market. Everything a transaction. Including how to sway politicians. As a counterpoint, in Canada our government has regulated against[1] these sorts of issues. We aren't an ideal by a long shot[2][3], but we sure as hell value it when our government leans on corporate entities. I believe the same happened in the EU with regards to cellular roaming? [1] http://pmprb-cepmb.gc.ca/home http://pmprb-cepmb.gc.ca/home [2] Unironically it was a conservative "free market" government that landed us in this pickle. [3] https://www.theglobeandmail.com/opinion/canada-must-and-can-take-control-of-drug-prices/article34999078/ https://www.theglobeandmail.com/opinion/canada-must-and-can-...
    - deleted 9y ago
      [deleted]
    - Turing_Machine 9y ago
      > Right. So what exactly do you think happens when you take the referee out of a UFC match?" There's no longer any "referee" to bribe? The fans get to vote on the winner in a free market? > Everything is a market. Everything a transaction. Including how to sway politicians. The less power politicians have, the smaller the return on buying them. And vice versa. > We aren't an ideal by a long shot[2][3], but we sure as hell value it when our government leans on corporate entities. There is essentially zero drug development in Canada. Have you ever wondered why that might be? Do you think it might be a problem (for Canada) if the same policies were applied in the U.S.?

bob_theslob646 9y ago

If you want to read the article. Plug this article into google translate. Otherwise you need a subscription from the FT https://www.rbc.ru/society/10/12/2017/5a2d310f9a794763beb12377 https://www.rbc.ru/society/10/12/2017/5a2d310f9a794763beb123... For non-subscribers, hear you go. ______________________________________________________________________________________________________________________ > American drug manufacturer Avondale Pharmaceuticals "raised the price of vitamins" Niacor "by 809%, to $ 295 per package," writes the Financial Times . This is the only medicine containing niacin (vitamin B3), which can be bought by prescription. Last month, one package of vitamins per 100 tablets cost $ 32.46. The medicine containing niacin can be bought in online stores for $ 5, but it is not certified by the US Health Department - the Office of Sanitary Supervision for Food and Drug Administration. "Avondale took advantage of the strategy of businessman Martin Shkrely:the company bought the rights to the medicine from Upsher Smith, the American unit of Japanese Sawai Pharmaceutical, being the only producer of the drug, and sharply increased the price." How many times must this happen before the government gets involved?

chinathrow 9y ago
Congress is involved - many congressmen and women are walthy enterpreneurs. Not a single one of those would love to cut into their business friends margins, I guess.

revmoo 9y ago

Don't post paywall content

ghthor 9y ago

Can't I still buy niacin that isn't "Niacor" for the same low-ish price as a non-perscription vitamin?

Turing_Machine 9y ago
Yes, of course you can.

tzs 9y ago

Why would one need a prescription form of niacin as opposed to the niacin that is avilable in most common over the counter multivitamins? For example, I take two Flintstone Completes each day, which provides 150% of the RDA of niacin. Is this only meant for people who have some condition that requires a much larger than normal dose? As far as buying from those online sources that are $5 for 100 tablets but are not FDA certified, niacin is also available from many of the supplement makers that sell in brick and mortar stores, like Rite Aid, CVS, Walmart, etc. Those brands cost more than the cheapest online-only brands, but might be more reliable, and can also be found online fairly cheap. Nature's Bounty brand niacin supplement, for example, is available via Amazon at $24 for 240 500 mg tablets (2000% RDA). It should be noted that there are at least four different forms of niacin supplements avilable. • nicotinic acid • nicotinic acid combined with agents to slow its release • nicotinamide • inositol hexanicotinate I think the Niacor is the first form. The Nature's Bounty supplements are the fourth form. Here's an article that explains how the forms differ biologically: https://www.crnusa.org/sites/default/files/files/resources/13-CRNVMS3-NIACIN.pdf https://www.crnusa.org/sites/default/files/files/resources/1...