Obamacare: bringing you $1500 drugs that used to cost $5-15 per dose
KV Pharmaceuticals has made a lot of money for itself and its investors recently. It obtained a government sanctioned monopoly to make and distribute a drug to help prevent premature births. Additionally, it's not even a new drug...or even their drug. They bought it from someone else and didn't even have to pay unless/until FDA approval was granted.
Not bad for a company that had to recall almost all of its drugs and destroy its inventory a couple of years ago, sending it to the brink of bankruptcy. Senior executives were fired and the future looked quite bleak back in late 2008 and early 2009. Not exactly the kind of company you would expect the FDA to grant a monopoly right to manufacture a drug, right?
How did it work this miracle? With a little help from some friends at the FDA and Barack Obama.
It's no coincidence that all (that's right, all) contributions from KV Pharmaceuticals went to Barack Obama. Nor should it be a surprise that all the contributions from the company originally sanctioned to manufacture the drug (Adeza) also went to Barack Obama (and one to Hillary Clinton). Nor that the vast majority of contributions from Hologic (including CEO Jack Cumming), the company the brokered the deal, went to Barack Obama (with a few to other Democrats and a couple to home-state candidate Mitt Romney).
Following the money on this one was easy. Adeza (an Obama friendly company) has the rights which are brokered by Obama friendly Hologic with terms incredibly friendly to KV Pharmaceuticals which receives FDA approval for a government sanctioned monopoly...right after Obamacare is passed. Then early this year the FDA let the company know that it had approval to start selling the drug even before clinical trials had finished.
Adeza makes money. Hologic makes money. KV makes a lot of money. And Barack Obama gets campaign contributions. You shouldn't be surprised if a list of people who invested heavily in KV Pharmaceuticals back in January of 2009 (when bankruptcy looked certain) corresponds heavily to a list of movers and shakers in the administration.
Nothing to see here...move along...just government health care providing you with drugs at a 30000% markup.
Not bad for a company that had to recall almost all of its drugs and destroy its inventory a couple of years ago, sending it to the brink of bankruptcy. Senior executives were fired and the future looked quite bleak back in late 2008 and early 2009. Not exactly the kind of company you would expect the FDA to grant a monopoly right to manufacture a drug, right?
How did it work this miracle? With a little help from some friends at the FDA and Barack Obama.
It's no coincidence that all (that's right, all) contributions from KV Pharmaceuticals went to Barack Obama. Nor should it be a surprise that all the contributions from the company originally sanctioned to manufacture the drug (Adeza) also went to Barack Obama (and one to Hillary Clinton). Nor that the vast majority of contributions from Hologic (including CEO Jack Cumming), the company the brokered the deal, went to Barack Obama (with a few to other Democrats and a couple to home-state candidate Mitt Romney).
Following the money on this one was easy. Adeza (an Obama friendly company) has the rights which are brokered by Obama friendly Hologic with terms incredibly friendly to KV Pharmaceuticals which receives FDA approval for a government sanctioned monopoly...right after Obamacare is passed. Then early this year the FDA let the company know that it had approval to start selling the drug even before clinical trials had finished.
Adeza makes money. Hologic makes money. KV makes a lot of money. And Barack Obama gets campaign contributions. You shouldn't be surprised if a list of people who invested heavily in KV Pharmaceuticals back in January of 2009 (when bankruptcy looked certain) corresponds heavily to a list of movers and shakers in the administration.
Nothing to see here...move along...just government health care providing you with drugs at a 30000% markup.