Nuke-imaging supplier spikes prices, draws watchdog’s attention
The India-headquartered manufacturer of radiotracers used in nuclear imaging has come under the watchful eye of an American journalist for its alleged price gouging and possibly improper product bundling.
Pharma watcher Ed Silverman of STAT reports that the company, Jubilant DraxImage, has spiked prices for two of its imaging agents between 500 percent and nearly 1,800 percent while also pressuring its pharmacy clients to sign long-term contracts with minimum-purchase clauses.
“The Jubilant contracts that went into force earlier this year prevent the pharmacies from engaging in what is called anticipatory compounding,” Silverman writes. “As a result, the pharmacies can only purchase enough of the Jubilant medicines to fill specific orders and, unless a hospital orders several doses, any leftover medicine is likely to be wasted. The upshot: Pharmacies must spend more to keep customers.”
Silverman notes that Jubilant has been reported to state and federal authorities but says there are no signs any investigations have been launched.
The piece was picked up by PBS. Click to read:
Dave P. has worked in journalism, marketing and public relations for more than 30 years, frequently concentrating on hospitals, healthcare technology and Catholic communications. He has also specialized in fundraising communications, ghostwriting for CEOs of local, national and global charities, nonprofits and foundations.