{"id":60493,"date":"2015-10-08T23:19:49","date_gmt":"2015-10-09T03:19:49","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=60493"},"modified":"2015-10-08T23:23:10","modified_gmt":"2015-10-09T03:23:10","slug":"the-common-decency-act","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2015\/10\/08\/the-common-decency-act\/","title":{"rendered":"the common decency act&#8230;"},"content":{"rendered":"<br \/>\n<blockquote>\n<div align=\"center\" class=\"big\"><a href=\"http:\/\/pharmalot.com\/senator-asks-ftc-to-investigate-shkreli-for-antitrust-violations\/\" target=\"_blank\">Senator asks FTC to investigate Shkreli for antitrust violations<\/a><\/div>\n<div align=\"center\" class=\"big\"><strong><font color=\"#004400\">Pharmalot<\/font><\/strong><\/div>\n<div align=\"center\" class=\"middle\">by Ed Silverman<\/div>\n<div align=\"center\" class=\"small\">October 8, 2015<\/div>\n<p align=\"justify\"><img loading=\"lazy\" decoding=\"async\" width=\"128\" hspace=\"4\" height=\"167\" border=\"0\" align=\"right\" src=\"http:\/\/1boringoldman.com\/images\/greed-baby.gif\" alt=\"Martin Shkreli\" title=\"Martin Shkreli\" \/>A US Senator has asked the Federal Trade Commission to investigate  whether drug makers are hiking prices and then restricting distribution  to prevent generic drug makers from making lower-cost versions of their  medicines. In <a href=\"http:\/\/www.klobuchar.senate.gov\/public\/news-releases?ID=f6badfb8-8827-4323-b110-64311bee6285\" target=\"_blank\">a letter<\/a>  to the agency, Minnesota Senator Amy Klobuchar cited Martin Shkreli and  his Turing Pharmaceuticals, which created a nationwide sensation after  recently buying a life-saving medicine and then raising the price from  $13.50 a pill to $750. This 5,000 percent price hike triggered a new  round of scrutiny of prescription drug costs that is now spilling over  into the presidential election campaign.<\/p>\n<p align=\"justify\">In her letter, Klobuchar noted that Turing uses a controlled  distribution system to prevent generic drug makers from purchasing its  pill. Without sufficient supplies, a generic drug maker is unlikely to  have enough medicine to run clinical tests needed for FDA approval. And a  generic medicine must be bioequivalent with a brand-name drug, meaning  it must produce the same sort of effect in a patient.<\/p>\n<p align=\"justify\"><a href=\"http:\/\/pharmalot.com\/how-martin-shkreli-prevents-generic-versions-of-his-pricey-pill\/\" target=\"_self\"><img decoding=\"async\" width=\"135\" vspace=\"2\" hspace=\"4\" border=\"1\" align=\"left\" src=\"http:\/\/1boringoldman.com\/images\/monopoly-1.jpg\" \/>As we explained earlier this week<\/a>,  Turing maintains a select list of qualified buyers, including a  specialty pharmacy to fill individual prescriptions, as well as certain  hospitals and clinics. But all shipments come from a division of a major  wholesaler that must clear any other purchase requests with Turing. And  a Turing executive acknowledged that he would reject any orders from a  generic drug maker. Klobuchar complains that this system, which is sometimes employed by  other pharmaceutical companies, deserves investigation because it may  preclude competition and, ultimately, force consumers to pay higher  prices for medicines.<\/p>\n<div align=\"justify\">&ldquo;As a public policy matter, this practice is disturbing, but as you  know, the antitrust laws do not apply to unilateral price increases, no  matter how unfair,&rdquo; Klobuchar wrote in her letter to FTC chairwoman  Edith Ramirez. &ldquo;If a company were to employ this strategy to deny competitors supply  for use in a generic application, it would be doing more than simply  raising prices,&rdquo; she continued. &ldquo;It could be excluding competition from  the market to the detriment of consumers and violating the Federal Trade  Commission Act.&rdquo;<\/div>\n<\/blockquote>\n<div align=\"justify\" class=\"small\">Wouldn&#8217;t that be nice. We might throw in Gilead&#8217;s Sovaldi for good measure. Neither company did the discovery, yet they essentially hold sanctioned monopolies through different mechanisms. Worse, both are exploiting patients who have no other real choices. If Martin Shkreli isn&#8217;t breaking a law, maybe we need some new laws &#8211; the Common Decency Act of 2016&#8230; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Senator asks FTC to investigate Shkreli for antitrust violations Pharmalot by Ed Silverman October 8, 2015 A US Senator has asked the Federal Trade Commission to investigate whether drug makers are hiking prices and then restricting distribution to prevent generic drug makers from making lower-cost versions of their medicines. In a letter to the agency, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-60493","post","type-post","status-publish","format-standard","hentry","category-opinion"],"_links":{"self":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/60493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/comments?post=60493"}],"version-history":[{"count":15,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/60493\/revisions"}],"predecessor-version":[{"id":60508,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/60493\/revisions\/60508"}],"wp:attachment":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/media?parent=60493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/categories?post=60493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/tags?post=60493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}