QUICK READ: Via the FT “Gilead Sciences has come under fire for securing a de facto monopoly in the US for an experimental drug seen as a potential coronavirus treatment, with activists accusing the US drugmaker of “morbid calculus” and “the most blatant abuse of the orphan drug act”. This company is a stain on the industry.
- AbbVie, Humira’s manufacturer, kicked off 2020 with a price increase in excess of 7 percent on its mega-blockbuster brand-name treatment.
- The increase followed total Humira price hikes of 19 percent during 2017 and 2018.
- The cost of Humira, which is injected via syringe, was more than $72,000 a year on prescription drug websites this week and is not expected to come down until at least 2023.
- AbbVie won dozens of additional patents — what critics call a “patent thicket” — that extended the exclusive market for the drug.
- The top six executives at AbbViw make over $56.6 million.