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From The Socialist newspaper, 14 December 2016

Pfizer drug extortion - nationalise big pharma!

photo Creative Commons, photo Creative Commons

photo Creative Commons, photo Creative Commons   (Click to enlarge)

Lisa Bainbridge, health charity worker

Drugs company Pfizer has been fined a record 84.2 million, and Flynn Pharma 5.2 million for excessive and unfair prices. The Competition Market Authority ordered the fine for hikes to anti-epilepsy drug phenytoin sodium, branded 'Epanutin'.

Pfizer sold distribution rights to Flynn Pharma in September 2012. Flynn then debranded the drug, releasing it from price regulation. 100mg of phenytoin sodium capsules, previously sold to the NHS for 2.83, rose to 67.50 - a hike of 2,600%.

There was a slight reduction in May 2014, to a mere 54. But the result had been an increase in NHS spending from 2 million to around 50 million a year in 2013.

The regulator found both companies abused their market position. Pfizer continued to manufacture the drug - at a price 780-1,600% higher than its previous sale price.

The NHS was locked into buying it. Changing medication even slightly risks loss of seizure control for the estimated 48,000 NHS epilepsy patients who rely on it.

Prescriptions dispensed in the community cost the NHS 9.3 billion in 2015, up 4.8% on the previous year, against an increase of just 1.8% on the number of items dispensed to patients.

In my own role in a health charity, we have been working for a year to save a prescribing budget of just 23 million in support of 150,000 NHS patients. That's less than half the annual profit raid Pfizer and Flynn Pharma conspired to achieve.

The National Audit Office has also recently warned that the NHS needs to find a further 14.9 billion in savings to close the gap between patient needs and available resources.

The NHS is at a crossroads. The choice is simple: a fully funded, publicly owned NHS with cheap, high-quality, nationalised drug manufacturing - or a system that continues to allow corporate raiding of the NHS at our expense.

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In The Socialist 14 December 2016:


Socialist Party news and analysis

NHS crisis: we're fighting back!

End the Tories' war on the working poor

Amazon workers living in tents

Pfizer drug extortion - nationalise big pharma!

Trust in politicians reaches all-time low

No to home seizures for care bills

Them & Us


What we think

Establishment EU crisis deepens - fight for a socialist Brexit


A socialist programme for education

What kind of education?

Education for all - not exam factories


International socialist news and analysis

CWI: opportunities for substantial growth


Workplace news and analysis

Glasgow Labour leaders deluged with protests

Victory for UPS parcel workers

Nationalise Tata Steel to save jobs and pensions

Bin workers strike against draconian management

Derby TAs to strike against pay cut

Southern: back the strike, nationalise the railways!


Socialist Party reports and campaigns

Birmingham Labour: Corbyn supporters need not apply

The Socialist Party and fighting women's oppression

Doncaster: cuts give rise to 'tent city'

Scrooge Tory council confronted over treatment of homeless


Comment and review

It's the bumper Socialist 2016 quiz!

2016 sounds for your stocking

The Socialist Inbox


 

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Related links:

Pfizer:

triangleBig drugs companies dodge 3 billion pounds in tax

triangleGreater Manchester: patients are people not guinea pigs!

triangleNHS drug price hike: nationalise big pharma!

triangleTax-dodging drug firm shuts research facility

trianglePfizer takeover bid

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triangleThe case for socialist nationalisation

triangleRetail crunch: more giants on their knees - nationalise them now

NHS:

triangleYork health workers say no to privatisation

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