A recent article in The Times reported that The Competition and Markets Authority may fine Concordia International for taking advantage of its position as sole provider of liothyronine, a form of medication for the treatment of an underactive thyroid. Allegedly, the pharmaceutical giant had increased the price of the drug to the NHS from 16p to £9.22 per tablet.
Where several companies manufacture the same drug, prices can be kept down through market forces but there appears to be an increasing trend – in the UK, Europe and the United States – for the hiking of medication prices where a monopoly exists.
According to The Times, both Pfizer and Flynn Pharma were fined by the government last year for similar offences.
The excessive pricing of liothyronine may lead the NHS to stop prescribing the drug.
Speak to a solicitor
If you have been the victim of significant failings in medical care, you may wish to consult a solicitor with a view to pursuing a claim for compensation.
Contact Glynns Solicitors, specialists in medical negligence, to discuss your situation with an experienced solicitor.
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