After facing months of scrutiny over drug pricing, Valeant CEO has said the company will start raising prices again.
According to Business Insider, Valeant CEO Joe Papa told attendees of Wells Fargo's healthcare conference that the company would start raising prices toward the end of this year.
On September 16, Valeant increased the list price of three products: Atropine Sulfate Ophthalmic Ointment, PrednisoLONE Sodium Phosphate Ophthalmic Solution, and Neomycin-Polymyxin-Gramicidin Ophthalmic Solutions. Back in April, Valeant execs stood before Congress and promised that they would lower prices across the board. They specifically promised to lower the price of two heart medications, Nitropress and Isuprel, around 30%.
Bloomberg recently contacted 23 hospital systems and purchasing groups selected from lists of the country's biggest or top-rated hospitals inquiring about Valeant's heart med price reductions. Eleven of the hospitals said they weren’t yet getting lower prices on one or both drugs. Only one large hospital system and one purchasing group said they were getting discounts.