The FDA issued a nationwide recall of valsartan, manufactured by Zhejiang Huahai Pharmaceuticals, in July after a probable human carcinogen, n-nitrosodimethylamine, was found in the products.
Several companies are still selling versions of the drug, including Alembic Pharmaceuticals, Jubilant Pharma and Mylan.
After the recall, prices for 160-milligram and 80-milligram tablets of the drug more than doubled. A 160-milligram valsartan tablet that cost 14 cents in August was about 31 cents in September.
It was not immediately clear which pharmaceutical companies raised their prices. However, a recent report published in the Annals of Internal Medicine found it is common for drugmakers to increase prices amid shortages.
Eric Pachman, co-founder of healthcare data firm 46brooklyn, told Reuters even short-term price increases for a drug in shortage could affect how much U.S. consumers pay years down the road.
“If the price of valsartan jumps to $2 and then three weeks later it comes back down to 20 cents, there will be consumers somewhere in this country on high-deductible [insurance] plans still paying $2 a pill three years from now,” said Mr. Pachman.
Read the full report here.
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