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Thread: US Drugmaker Raises Price of Vitamins By More Than 800%

  1. #1

    US Drugmaker Raises Price of Vitamins By More Than 800%

    https://science.slashdot.org/story/1...-more-than-800

    David Crow, reporting for the Financial Times:

    A US drugmaker is charging almost $300 for a bottle of prescription vitamins that can be bought online for less than $5, in the latest attempt at price gouging in the world's largest healthcare market. Avondale Pharmaceuticals raised the price of Niacor, a prescription-only version of niacin, by 809 per cent last month, taking a bottle of 100 tablets from $32.46 to $295 (Editor's note: the link may be paywalled; alternative source), according to figures seen by the Financial Times. Although niacin, a type of vitamin B3, is available in over-the-counter forms for less than $5 per 100 tablets, some doctors still prefer to use the version approved by the US Food and Drug Administration to treat high cholesterol. Avondale, a secretive Alabama-based company, put the price of Niacor up shortly after acquiring the rights to the medicine in a so-called "buy-and-raise" deal -- a strategy made famous by Martin Shkreli, the disgraced biotech entrepreneur.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

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  3. #2
    "...a secretive Alabama-based company..."

    That made me shake my head and go, hmmmmm.
    My website: https://www.theherbsofthefield.com/

    "No one is useless in this world who lightens the burdens of another.” ~ Charles Dickens

  4. #3
    Quote Originally Posted by donnay View Post
    "...a secretive Alabama-based company..."

    That made me shake my head and go, hmmmmm.
    Yup. Same guy that jacked up the price of the Epi-Pen.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    You are Ron Paul's Media!

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.

  5. #4
    In a free market, who would purchase their niacin?

  6. #5
    Quote Originally Posted by Schifference View Post
    In a free market, who would purchase their niacin?
    Vitamins are a free market.

    This speaks more to the power and (presumed) authority of the medical profession to dictate a brand via prescription, and the lunacy of the health insurance industry to cover it. No doubt the people who take the prescribed version do not actually pay the full price.
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  7. #6
    Quote Originally Posted by donnay View Post
    "...a secretive Alabama-based company..."
    That made me shake my head and go, hmmmmm.
    Really? Because when I read something like that I automatically assume it was written by a leftist that hates anything capitalism.
    One of the source articles even says "The company was formed in August and has no online presence, but state records show that it is based in Alabama."

    And yet a quick search shows that is false: http://avondalepharm.com/


    They even have a contactus page! ewww, secretive.

  8. #7
    Quote Originally Posted by Brian4Liberty View Post
    Vitamins are a free market.

    This speaks more to the power and (presumed) authority of the medical profession to dictate a brand via prescription, and the lunacy of the health insurance industry to cover it. No doubt the people who take the prescribed version do not actually pay the full price.
    Yes and Big pHARMa knows this. that is why they have entered the supplement industry and have their guard dogs (FDA) going after the little guys in the free market <---I use that term very lightly, because it is the appearance of a 'free market', which it is not.

    They are already gunning for Hyland's homeopathic remedies.

    Here is how socialized medicine works:

    I have a friend who lives in England and she was always getting sick. She went to her doctor and he prescribed Vitamin D--on the face of it, one would think that was great to help her out. The problem is it is was D2, not D3. Now she thinks Vitamin D will not help her immune system because she was prescribed the wrong type of D.
    My website: https://www.theherbsofthefield.com/

    "No one is useless in this world who lightens the burdens of another.” ~ Charles Dickens

  9. #8
    Quote Originally Posted by specsaregood View Post
    Really? Because when I read something like that I automatically assume it was written by a leftist that hates anything capitalism.
    One of the source articles even says "The company was formed in August and has no online presence, but state records show that it is based in Alabama."

    And yet a quick search shows that is false: http://avondalepharm.com/


    They even have a contactus page! ewww, secretive.
    Yeah got to love all those pharmaceutical companies jumping in on the supplement side of free market eh? Kind of like them jumping in the on cannabis free market to corner and control cannabis .
    My website: https://www.theherbsofthefield.com/

    "No one is useless in this world who lightens the burdens of another.” ~ Charles Dickens



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  11. #9
    Quote Originally Posted by donnay View Post
    Yeah got to love all those pharmaceutical companies jumping in on the supplement side of free market eh? Kind of like them jumping in the on cannabis free market to corner and control cannabis .
    Most of the supplements you buy in the market are produced by large corporations- just like big pharma. Some even are big pharma. It is a $300 billion a year industry.

    http://www.foxnews.com/story/2009/06...companies.html

    Some people who buy supplements to avoid Big Pharma drug companies may find themselves doing business with Big Herba, instead.

    Some of the same companies that mass-produce drugs in huge chemical labs also churn out vitamin and herbal pills sold in bottles with rainbows, sunrises and flowers on their labels.


    Dozens of other supplement makers reap more than $100 million in annual sales. One of the largest — NBTY Inc., on New York's Long Island — sold $2 billion last year in the United States alone. Its brands include Nature's Bounty, Vitamin World, Puritan's Pride and Sundown.

    "They used to be mom and pop operations but now they're major companies," said Bruce Silverglade, chief lawyer for the consumer group, Center for Science in the Public Interest.
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    I am Zippy and I approve of this post. But you don't have to.

  12. #10
    Quote Originally Posted by Zippyjuan View Post
    Most of the supplements you buy in the market are produced by large corporations- just like big pharma. Some even are big pharma. It is a $300 billion a year industry.

    http://www.foxnews.com/story/2009/06...companies.html

    On the tenth day of Christmas,

    guess what I gave to Zippy......

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  13. #11
    Quote Originally Posted by Zippyjuan View Post
    Most of the supplements you buy in the market are produced by large corporations- just like big pharma. Some even are big pharma. It is a $300 billion a year industry.

    http://www.foxnews.com/story/2009/06...companies.html
    I do not buy my herbs, vitamins or minerals from a pharmaceutical company. I buy from companies who have no problem with transparency to the customers.

    Example:


    NutraBio was founded in 1996 with the goal of providing our customers with the most effective supplements. In 2001, we revolutionized the supplement industry by introducing four quality commitments:

    Never using proprietary blends & guaranteeing full label disclosure
    Banning all fillers, excipients & additives from our products
    Guaranteeing full therapeutic dosages of every active ingredient
    Manufacturing our own products so we could control every aspect of quality.





    Last edited by donnay; 12-23-2017 at 03:41 PM.
    My website: https://www.theherbsofthefield.com/

    "No one is useless in this world who lightens the burdens of another.” ~ Charles Dickens

  14. #12
    Quote Originally Posted by Brian4Liberty View Post
    Vitamins are a free market.

    This speaks more to the power and (presumed) authority of the medical profession to dictate a brand via prescription, and the lunacy of the health insurance industry to cover it. No doubt the people who take the prescribed version do not actually pay the full price.
    But sadly there's quite a bit of "there ought a be a law!!!" types here. The original post certainly isn't of a free market bent.

    Most of it's all snake-oil anyway. It was a rip-off to begin with - now it's just a bigger rip off.
    Last edited by angelatc; 12-23-2017 at 04:43 PM.
    * Enforce Border Security – America should be guarding her own borders and enforcing her own laws instead of policing the world and implementing UN mandates.

    * No Amnesty - The Obama Administration’s endorsement of so-called “Comprehensive Immigration Reform,” granting amnesty to millions of illegal immigrants, will only encourage more law-breaking.

    * Abolish the Welfare State – Taxpayers cannot continue to pay the high costs to sustain this powerful incentive for illegal immigration. As Milton Friedman famously said, you can’t have open borders and a welfare state.

    * End Birthright Citizenship – As long as illegal immigrants know their children born here will be granted U.S. citizenship, we’ll never be able to control our immigration problem.




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