Soaring Price of Colchicine Questioned by CBS News
October 12, 2011 by Alex.
Colchicine is best known as an effective gout medication (a very painful form of arthritis), and hundreds of thousands of gout patients and their health care providers are up in arms at the huge hike. "Colchicine has been used to treat gout and other inflammatory conditions for thousands of years. How could one company gain a monopoly?" CBS asks in their story.
The answer is the FDA's Unapproved Drugs Initiative. Concerned about the safety and effectiveness of commonly used drugs that pre-date the stringent current approval process, the FDA launched a program to have around 1000 older drugs like colchicine either approved, or removed from the market.
One pharmaceutical company, URL Pharma, sought FDA approval for colchicine, and in return for conducting clinical studies, was awarded exclusive rights to market colchicine for gout for three years. They then hiked the price of the gout drug a whopping 5000 percent.
Adding to American consumers' ire, low priced generic colchicine remains available just across the border in Canada. To view the CBS coverage of the soaring price of colchicine online, >Click Here.<
Filed under: Colchicine Price.
Tags: prescription drug colchicine, name brand Colcrys, anti-inflammatory colchicine, generic colchicine, colchicine tablets, gout medication, treat gout, price of colchicine, colchicine for gout, gout drug.
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