News Type:
News Article
Article:
K-V Pharma Slashes Price of Drug Amid Outcry
April 5, 2011
Issue Areas:
When a drug to prevent preterm labor was approved by the Food and Drug Administration in February, its price jumped, exponentially. Though the compound had been available from pharmacies for $10 to $20 per shot for years, KV Pharmaceutical took its formulation of the drug through the FDA approval process and announced a list price of $1,500 per shot for the drug, brand named Makema. The company defended the price as necessary to offset the cost of developing and testing the drug and said a rebate or coupon program was being put into place to assist low-income women, but public outcry was great.
KV Pharmaceutical has since reduced the price to $690 per shot, less than half of the initial list price for Makema, but still much higher than the cost of the drug prior to FDA approval. The injectable drug is given weekly to pregnant women at risk of preterm labor.