Gottlieb on price gouging

Fortune

12 September 2018 - Here’s something you don’t see every day: the Commissioner of the FDA took a very public (and harsh) stance on drug price gouging in response to a story published by the Financial Times‘ David Crow.

The background: Nostrum Laboratories CEO Nirmal Mulye attempted to use a Martin Shkreli-style excuse (Mulye literally defended the infamous drug-price-hiker-turned-convicted-felon) in a gambit to justify sharply raising an antibiotic mixture’s price as a matter of defending shareholder value. 

“I think it is a moral requirement to make money when you can . . . to sell the product for the highest price,” Mulye told FT, adding that he believes the FDA is “incompetent and corrupt” for levying certain fees on drug makers.

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Michael Wonder

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Michael Wonder

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Medicine , US , Regulation , Pricing