Shkreli’s Bros: Drug Company Raises Everyday Vitamin Price by 800 Percent

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Top Tier Gear USA

medicine pills big pharma

Following the lead of pharma-bro Martin Shkreli, a US drug company has hiked the price of a prescription version of vitamin B3 pills by over 800 percent. A drug used to treat respiratory ailments also got a price hike of nearly 2,500 percent.

Avondale Pharmaceuticals raised the price of Niacor, a prescription-only version of niacin (vitamin B3), by 809 percent last month. This means a bottle of 100 tablets went from costing $32.46 to $295, according to figures sent to the Financial Times.

While the drug is available over the counter, some doctors prefer to prescribe a version that has US Food and Drug Administration approval. The drug is used to lower cholesterol to reduce the chance of having a heart attack.

The company also acquired another generic, SSKI, and increased its price by 2,499 percent, taking a 30ml bottle from $11.48 to $295.

The Birmingham, Alabama-based company raised its prices shortly after acquiring the rights to the drugs in a “buy-and-raise” deal made notorious by Martin Shkreli, the hedge fund investor recently convicted of securities fraud.

Shkreli became mired in controversy when he raised the price of a drug used by cancer and HIV patients by 5,500 percent.

The price hikes by Avondale were first noticed by Truven Health Analytics, according to The Independent.

According to the Financial Times, Avondale Pharmaceuticals was set up in August by a registered agent, Acrogen Pharmaceuticals, seemingly for the sole purpose of drug acquisition. Acrogen was started in 2016 by Mark Pugh, an executive behind several pharmaceutical companies.

“This is the latest example of an inefficient US market where the consumer, payer, and doctor don’t have all the information available to make a financially sound choice,” Michael Rae, CEO of Rx Savings, told FT. “They are caught in a web of inefficiency and are being taken advantage of.”

Price gouging is a controversial but established strategy whereby firms buy up the rights to a drug that faces little or no competition, before massively inflating the price and enjoying the profits.

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  • darkhorse

    there’s no proof that vitamins do anything at all….

    • Thomas Petrie

      So darkhorse, in what school did you study nutritional science? Also, while we’re on the subject, what books on vitamins have you read or studied. Thanks for your answer.

      • darkhorse

        so keep paying for them… no skin off my nose. Have a party!

    • Billy Sharpshooter

      Well not foreign chemicals derived from petro and GM corn sources. Said ‘vitamins’ will make you ill. Ever taken a vitamin pill and you feel a strange buzz, as though you have taken a drug? I have. I was nearly sick once after taking my ‘vitamins’.

      • darkhorse

        yeah… no proof they do any good at all … and that goes back a long time…always heard it’s best to get nutrients from fresh veggies and fruits

  • darkhorse

    ummm..what are the retired military snipers doing lately….?

  • THE ABSOLUTE TRUTH YOU DON’ FA

    Must be another hook nosed rat.

  • Billy Sharpshooter

    I believe that anything that is controlled by mega corporations has been booby trapped (that includes Facebook, Google and Monsanto). Everything is a rigged dice against you and the purpose is to transfer all the world’s wealth into the top 1% of hands. The best policy is to avoid vitamins and sports supplements. You cannot avoid food. And I use Google all the time. But the most important thing I have done this year is to not upgrade my iPhone. My older iPhone 5C has slowed to a crawl and this SE soon will. But I am satisfied that this user is not feeding the Beast. Well not yet anyway😉

  • Billy Sharpshooter

    Vitamins are drugs. And you don’t know nothing about the extraction process, what solvents are used, how a corporation always uses cheapest ingredients etc. You are gambling with your health and even sanity if you take vitamins.

  • The Tuna Fairy

    Build up to the dose. The flush isn’t bad if you work up to it. take about 1/4 of what you took, you’ll flush, but not that badly. The flush is the feeling of blood flow though all the small capillaries that have net been getting enough blood for a long time. That bad of flush also means you need it REALLY bad, takes very low B3 levels to get that bad of a reaction. Try a quarter of that dose.