KV Pharmaceutical, in an attempt to make its new prenatal drug available to more women, cut the price of it today. This was after the company had been pressured about the high costs.
The March of Dimes, one of KV Pharmaceuticals chief critics, was not satisfied with this effort, however. In fact, the company has decided to severits corporate partnership agreement with KV'swholly-owned subsidiary, Ther-Rx Corp.
KV announced that it would reduce its price to$690 per injected dose, a 55 percent cut for Makena, the branded drug thatthe Food and Drug Administration approved on February 4.
Despite the lowered price, it is still more than45 times the $10 to $15 price that specialtypharmacies charge for a virtually identical compound, 17P, which doctors have prescribedin recent yearsto prevent pre-term birth.
According to Yahoo News, KV has exclusive marketing rights to sell Makena, but because of its price, the FDA refuses stop the sale of the cheaper substitute, 17P. The FDA made this announcement on Wedneday, saying that due to affordability concerns, it would not take enforcement action against pharmacies selling the substitute.
To reduce the cost even further for Medicaid programs, KV said it would offer additional rebates and alsoprovideadditional financial aidtopatients. A spokesperson said that"85 percent of patientswill pay $20 or less per injection forFDA-approved Makena." The remaining balancewould be coveredby insurancecarriers, that is if they agree to pay the price KV wants to charge.
Greg Divis, chief executive of KV, said that "ensuring access to an FDA-approved sterile, injectable medication, manufactured under mandatory strict quality controls, is in the best interests of all high-risk women."
TheMarch of Dimes says that KV is taking "steps in the right direction" by reducing prices and expanding financial assistance, but that it is still severing its current contract and professional relationships withKV's drug marketing subsidiary.
