This is my great great grandfather’s photo of the Kickapoo Indian Medicine Company.
The Kickapoo Indian Medicine Company, of New Haven, Connecticut, sold “patent medicine” before they had patents for medicine. They sold snake oil when it was the cure-all. They weren’t really Indian. Kickapoo Medicine was often laced with alcohol, morphine, opium, or cocaine.
Fast forward to 2017. The shenanigans continue. Many mass market brand-name drugs that are nearing the end of their patent and even after the patent is over are being given orphan status. Orphan status allows the drug company to have a longer period of exclusivity on a drug and raise the price even higher than it was before. Drugmakers Manipulate Orphan Drug Rules To Create Prized Monopolies see also Orphan Drugs Lookup new on Feb 10: Grassley launches inquiry into orphan drugs after KNH investigation
Meanwhile, generic drug manufacturers, taking advantage of patents that are no longer exclusive, have colluded with other drug manufacturers who make the same drug to raise their prices as much as 8,000%. A lawsuit is pending. Alleged Scheme To Fix Generic Drug Prices Started At Dinners And ‘Girls Nights Out’
And now Trump wants to loosen regulations to encourage start-ups and get drugs to the market faster — TRUMP’S PLAN FOR LOWERING BIG PHARMA DRUG PRICES COMES AT A HIGH COST