The Loopholes Drug Companies Use to Keep Prices High
Drugmakers are using a variety of strategies to extend the exclusivity period of their wares, keeping less expensive alternatives away from patients.
Bob Kelsey has multiple myeloma and needs to take Revlimid, a medication made by Celgene Corp. that costs $662 per capsule.
Photographer: Jayme Gershen/BloombergBob Kelsey can’t afford a cancer drug that could save his life.
The retired firefighter, 53, needs Revlimid to stay healthy. Celgene Corp. has raised the price 88 percent over the past seven years. The drug doesn’t have substantial competition from a less expensive generic version, and probably won’t for another eight years. Celgene has worked hard to make sure of that.