referring to Ironically, Kaleo Pharma was founded by two brothers – Eric and Evan Edwards – who suffer from severe food allergies.
Virginia drug company Kaleo Pharma manufactures a treatment for opioid addiction, and as fatalities rise across the country, this small company has raised the price of the treatment by a whopping 500%.
It is a delivery system of naloxone, a drug designed to block the effects of opioids, particularly in cases of overdose.
He states that price is “not a true gauge,” since health insurers are sometimes able to negotiate pricing and offer rebates.
However, none of these attempts address the main problem: corporate greed and Big Pharma’s eagerness to profit from suffering and death.
as mentioned in In communities particularly hard-hit by drug overdoses, places such as schools, libraries and coffee shops are keeping the antidote on hand.
Their budgets are larger right now, so they’re less price sensitive, said Nicholson Price, an assistant professor at the University of Michigan Law School.
Called Evzio, it is used to deliver naloxone, a life-saving antidote to overdoses of opioids.
First came Martin Shkreli, the brash young pharmaceutical entrepreneur who raised the price for an AIDS treatment by 5,000 percent.
And, he said, since the price increase, more patients have gotten Evzio prescriptions filled—so the cost doesn’t seem to be stopping them.
Opioid Overdose Cure Gets Huge Price Hike
as mentioned in Earlier this week, Kaiser Health News reported on Virginia drug company Kaleo’s brazen move to take advantage of the opioid crisis.
Kaleo representatives have said that the unique, easy-to-use model of their device justifies the price increase, and pointed out their charity in donating it to necessary places.
But as of 2016, it’s since jumped to a market price of $4,500—a more than five-fold increase.
Even when it comes to dramatically raising the price of a life-saving medication for no justifiable reason.
One version of naloxone, for example, continues to cost around $20 a vial, which still represents a profit.
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