MNK - How ANI Pharmaceuticals Plans to Take Down a Price-Gouging Giant
H.P. Acthar Gel is a corticotropin injection approved to treat 19 indications, including multiple sclerosis, rheumatoid arthritis, and infantile spasms. The anti-seizure drug often requires daily dosing, and only had a list price of $40 per vial in 2000. Fast forward 20 years later, the drug, now manufactured by Mallinckrodt (NYSE: MNK) costs a staggering $38,892 for just one course of treatment, with no end in sight as to when the price will come down.
At the same time, patients who are in dire need of this therapy are being devastated by the price hike as Acthar is currently not covered by Medicare. Although the drug's patents have long expired, it has remained a trade secret that genetic pharmaceutical companies can't crack, until now.
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