Posted by: Broc_Lia
Posting time: 5.5 years ago on 6/1/2015 11:11:31 AM
Last edit time: never edited.
Archived on: 2/12/2017 1:51:00 AM
Views: 231
SCP: 15
15 upvotes, 0 downvotes (100% upvoted it)
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Archived FDA grant monopoly on commonly used drug, prices go from 10c per pill to $6 per pill (5900% increase in cost) (AnarchoCapitalism)
submitted 5.5 years ago by Broc_Lia
Source
Colchisine is an extract of Colchium Autumnale which is used to treat gout. The drug, in it's herbal form, has been used since at least ~1500 BC. The extract has been used since 1833 and until recently required no FDA approval. In 2009 they granted the company URL Pharma a three year sales monopoly on the drug in exchange for performing 17 studies on the drug and investing $100 million into research (of which $45 million went to the FDA for administrative costs). They subsequently raised the price to recoup on their investment and the FDA began cracking down on their competitors.
But thank god we have a government to regulate medicine, right?
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[–] Ashlir 0 points 1 point 1 point (+1|-0) 5.5 years ago (edited 5.5 years ago)
Fucking mafia thugs. Not even the good mafia, they at least provide products and service people want. Hookers and blow will always be in style.
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[–] Ashlir 0 points 1 point 1 point (+1|-0) ago (edited ago)
Fucking mafia thugs. Not even the good mafia, they at least provide products and service people want. Hookers and blow will always be in style.