Was NHS overcharged for liothyronine?

Was NHS overcharged for liothyronine? PharmacoEconomics & Outcomes News 792, p37 - 2 Dec 2017 Was NHS overcharged for liothyronine? The UK NHS appeared to be overcharged for liothyronine in 2016 after Concordia increased the price by nearly 6000%, reports Nigel Hawkes in the BMJ. NHS expenditure on liothyronine increased from £600 000 in 2006 to £34 million in 2016. In a provisional judgement issued in November 2017, the UK Competition and Markets Authority (CMA) found that Concordia, the monopoly supplier of liothyronine until early 2017, abused its position by increasing the price of the drug from £4.46 in 2007 to £258.19 per pack in July 2017, despite no increases in production costs. Concordia has denied breaching regulations. "Pharmaceutical companies which abuse their position and overcharge for drugs are forcing the NHS— and the UK taxpayer—to pay over the odds for important medical treatments. We allege that Concordia used its market dominance in the supply of liothyronine tablets to do exactly that," said Andrea Coscelli, chief executive of CMA. "At this stage in the investigation, our findings are provisional and there has been no definitive decision that there has been a breach of competition law," she added. A statement issued by Concordia commented that liothyronine had only been part of its portfolio since 2015 when it was acquired from private equity firms Cinven and HgCapital. These two firms are included in the complaint. If the CMA upholds its provisional finding, it can impose a fine of up to 10% of the company’s annual worldwide turnover, which was reported to be $816 million in 2016. * National Health Service Hawkes N. NHS was overcharged for thyroid drug after company raised price by 6000% BMJ 2017: j5408, No. 359, 21 Nov 2017. Available from: URL: https:// doi.org/10.1136/bmj.j5408 803284557 1173-5503/17/0792-0001/$14.95 Adis © 2017 Springer International Publishing AG. All rights reserved PharmacoEconomics & Outcomes News 2 Dec 2017 No. 792 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png PharmacoEconomics & Outcomes News Springer Journals

Was NHS overcharged for liothyronine?

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Publisher
Springer International Publishing
Copyright
Copyright © 2017 by Springer International Publishing AG, part of Springer Nature
Subject
Medicine & Public Health; Pharmacoeconomics and Health Outcomes; Quality of Life Research; Health Economics; Public Health
ISSN
1173-5503
eISSN
1179-2043
D.O.I.
10.1007/s40274-017-4560-0
Publisher site
See Article on Publisher Site

Abstract

PharmacoEconomics & Outcomes News 792, p37 - 2 Dec 2017 Was NHS overcharged for liothyronine? The UK NHS appeared to be overcharged for liothyronine in 2016 after Concordia increased the price by nearly 6000%, reports Nigel Hawkes in the BMJ. NHS expenditure on liothyronine increased from £600 000 in 2006 to £34 million in 2016. In a provisional judgement issued in November 2017, the UK Competition and Markets Authority (CMA) found that Concordia, the monopoly supplier of liothyronine until early 2017, abused its position by increasing the price of the drug from £4.46 in 2007 to £258.19 per pack in July 2017, despite no increases in production costs. Concordia has denied breaching regulations. "Pharmaceutical companies which abuse their position and overcharge for drugs are forcing the NHS— and the UK taxpayer—to pay over the odds for important medical treatments. We allege that Concordia used its market dominance in the supply of liothyronine tablets to do exactly that," said Andrea Coscelli, chief executive of CMA. "At this stage in the investigation, our findings are provisional and there has been no definitive decision that there has been a breach of competition law," she added. A statement issued by Concordia commented that liothyronine had only been part of its portfolio since 2015 when it was acquired from private equity firms Cinven and HgCapital. These two firms are included in the complaint. If the CMA upholds its provisional finding, it can impose a fine of up to 10% of the company’s annual worldwide turnover, which was reported to be $816 million in 2016. * National Health Service Hawkes N. NHS was overcharged for thyroid drug after company raised price by 6000% BMJ 2017: j5408, No. 359, 21 Nov 2017. Available from: URL: https:// doi.org/10.1136/bmj.j5408 803284557 1173-5503/17/0792-0001/$14.95 Adis © 2017 Springer International Publishing AG. All rights reserved PharmacoEconomics & Outcomes News 2 Dec 2017 No. 792

Journal

PharmacoEconomics & Outcomes NewsSpringer Journals

Published: Dec 2, 2017

References

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