Escalating drug prices, Time to Revise FDA Approval Process?

Few weeks back, Jim Doyle, the reporter of St Louis Post Dispatch came together with a series of compelling accounts on KV Pharmaceuticals. It had got to do with the mystifying economics of the approval by the FDA and with producers of the drug as well. Doyle has presented the whole thing in a very detailed way, mainly in the first and last installments; he gives you an overview about the whole working of the system, so that the people can understand them in a much better way. One of the first stories to be published proclaimed that the rates of one prenatal drug could increase 16 fold and this would be the result of the approval by the FDA. Due to this, the local pharmaceutical company would end up earning tons of money. The second story published is quite an interesting one. It concerns the criticizing of a former chief of the same company by a US District Judge. The Judge condemned him by accusing him of power abuse, greed and being reckless in his handling of the affairs of the firm.

But he concludes his reports with a stern warning. He is of the opinion that there would huge long terms costs involved because of the quick approval by the FDA. These costs could medical as well as the monetary part. So he is indirectly citing that the fast track approvals of the drugs by KV pharmaceuticals might not be a good move and that it could have some serious implications in the future. The rates of the drugs are reaching its zenith, so its time to a timely check.