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In April, Jaguar Health asked the federal government to authorize emergency use of its drug, Mytesi, for more coronavirus patients. Less than a month later, the pharmaceutical company more than tripled the drug’s price.
Mytesi is the only drug of its kind to relieve certain symptoms for people on antiretroviral treatments. At the end of 2019, a bottle of 60 pills cost $668.52.
On April 9, Axios reports that Jaguar Health raised the price to $2,206.52. Yep, we did the math, that’s more than three times the price.
Jaguar Health told Axios that back in December the company had planned to raise the price of the drug in April to increase revenue. However, the company also said it would have held off on the price increase if the government had approved its request for emergency-use authorization. Such an action would have increased the number of patients buying and using Mytesi.
When the FDA denied its request on April 7, Jaguar Health proceeded with the price increase.
Axios adds that Jaguar Health isn’t the only drug company to have raised prices amid the coronavirus outbreak. The Financial Times reported that a U.S. drug company doubled the price of its product, chloroquine, also used to treat COVID-19.
Have you seen any of your medications increase in price significantly since the beginning of the outbreak? Share your story with Voices for Affordable Health.