Beginning in July, Teva Pharmaceuticals and Prinston Pharmaceuticals rolled out a series of recalls on the high blood pressure and heart failure medicine valsartan after a probable carcinogen was found in the drug. Another company, unaffected by the issue, saw a rare opportunity. Alembic Pharmaceuticals rushed to hike the prices of its similar drugs anywhere from 329 percent to 469 percent. And when the same potentially cancer-causing impurity was found in another high blood pressure medication, irbesartan, Alembic hiked the price of its irbesartan, too. The tactic proved an overwhelming success for the company, which reported “massive growth” in U.S. ... Read More
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