Back in September 2016, Novum Pharma made headlines when it raised the price of Aloquin, a barely-effective acne cream from $240/tube to $10,000/tube, after acquiring the exclusive right to manufacture it.
Now, Novum is bankrupt, a fact it attributes to the price hike leading to "public scrutiny regarding [Novum’s] business model and further increased prescription rejection rates."
While this is reason to cheer, don't get too happy. As Beth Mole points out at Ars Technica: "despite the public spotlight on drug pricing, more than three-dozen drug companies started 2019 with sweeping price increases on hundreds of drugs."
While the bankruptcy may seem like a victory in the battle to drag down soaring drug prices, Craig Garthwaite, director of healthcare at Kellogg School of Management at Northwestern University, did not have such an optimistic view. “I think we’re seeing companies sensitive to announcing these price changes. I don’t think we’re seeing a wholesale change in behavior,” he told the Tribune.
Infamous pharma company declares bankruptcy after 3,900% price hike [Beth Mole/Ars Technica]
The China Law Blog (previously) reports on the kinds of questions that western businesses operating in China are raising; China's serious economic downturn and rising authoritarianism have turned the site's normally businesslike posts into a glimpse of a kind of cyberpunk stranger-than-fiction dystopia (for example).
Not everything is legal in New Jersey: Uber has to pay the state of New Jersey $650m in unemployment and disability tax for the employee drivers that it pretended were contractors. Uber is appealing. It will lose. Uber drivers in Jersey are now entitled to unemployment insurance. (via /.) (Image: Quotecatalog, Ervins Strauhmanis, CC BY, […]
Mysterious Galaxy is a wonderful, longstanding science fiction bookstore, host to readings for the Clarion Workshop, designated bookseller for Comic-Con signings, and much more.
Does your computer gear need an upgrade? Don’t cross your fingers and wait for Christmas. You can get 15% off the final sale price of all these essential accessories now by using the online code BFSAVE15, including gaming mice and computer desks. Wireless Charging Mouse Pad Talk about a space saver. This high-quality mouse pad […]
WordPress is a fantastic tool for building web pages – if you know how to use it. Even with all the accessibility, a lot of the deeper features of WordPress are lost in translation to the average user. Enter WP Page Builder, a tool that not only makes WordPress site design easy but also more […]
In this age of ever-shrinking gadgets, it bears reminding that sometimes bigger is actually better. And if you care about audio quality, we can’t think of a better example of this principle than these TREBLAB Z2 Bluetooth 5.0 Noise-Cancelling Headphones. We know tiny Bluetooth earbuds are all the rage right now. But their battery life […]