Michael Fein | Bloomberg | Getty Images <\/p>\n
An employee works in a lab at Momenta Pharmaceuticals in Cambridge, Massachusetts. <\/p>\n
Hikma Pharmaceuticals Plc's U.S. subsidiary has raised the price of a common diarrhea drug by more than 400 percent and is charging more for five other medicines as well, the Financial Times reported on Sunday. <\/p>\n
West-Ward Pharmaceuticals, the U.S. division of London-listed Hikma, increased the prices at the start of August by between 75 percent and 430 percent, for a mean of 237 percent, according to figures seen by the Financial Times. <\/p>\n
In the United States, generic drugmakers such as Hikma are able to dictate prices of their products that have a monopoly or face little competition, the FT said. <\/p>\n
Among the six drugs, West-Ward is either the only U.S. supplier or one of two manufacturers. <\/p>\n
The average wholesale price of a 60 ml bottle of liquid Atropine-Diphenoxylate, a common diarrhea drug also known as Lomotil, went from about $16 a bottle to $84, the FT reported. <\/p>\n
Brian Hoffmann, president of U.S. generics at West-Ward, said the prices of 94 percent of the group's copycat medicine portfolio had either fallen or stayed the same in 2017, and that they had fallen overall this year. <\/p>\n
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Drugmaker Hikma's US unit raises medicine prices - Financial Times - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Michael Fein | Bloomberg | Getty Images An employee works in a lab at Momenta Pharmaceuticals in Cambridge, Massachusetts. Hikma Pharmaceuticals Plc's U.S. Continue reading