A 30-day supply of Solodyn® costs over $1,000.00 a bottle. Generic minocycline costs about one-tenth the price.
You may have heard about how Martin Shkreli of Turing Pharmaceuticals recently acquired the AIDS drug Daraprim® and raised the price of the drug from $13.50 to $750 per pill overnight. It created a huge outcry and sparked investigations. As it turns out, Turing Pharmaceuticals isn't the only pharmaceutical company to purchase a drug and raise the price significantly. Almost immediately after Valeant acquired Medicis, the pharmaceutical giant significantly raised the price of Solodyn®. They are now making over $200,000,000.00 a year in sales.
The makers of Solodyn® paid generic drug manufacturers to stop competing with them, raised the price of Solodyn® many times over that of generics, and used questionable tactics, including discount coupons, to get the most money they could out of patients and health insurance companies.
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In 2012, Valeant Pharmaceuticals, a Canadian company, purchased Medicis, and its flagship product Solodyn®, for $2.6 billion. Solodyn® was Medicis' biggest money-maker, accounting for around 40% of Medicis' sales.Read this article: Valeant Buys Solodyn®.
Pharmacist at center of Valeant scandal accuses drugmaker of 'massive fraud'.Read this article: Solodyn® Maker Accused of Massive Fraud.
In order to collect that higher price, the makers of Solodyn® used some questionable tactics. Until recently, a large percentage of Valeant's pharmaceuticals were purchased through a mail order pharmacy called Philidor RX Services, LLC. Philidor used aggressive and questionable techniques to get insurers to pay for prescription drug claims.Read this article: Solodyn® Questionable Sales Tactics.
While the relationship between Valeant and Philidor is not entirely clear, it appears that Valeant employees worked closely with the pharmacy to maximize their profits at the expense of patients and their insurance companies.Read this article: Solodyn® Makers and Pharmacy Intertwined.
In 2013, sales of Solodyn® totaled $199 million and 2014 sales totaled $209 million. For the first half of 2015, the makers of Solodyn® had sales totaling $122 million.Read this article: Solodyn® Multi Million $ Sales (PDF).
A recent study by JAMA Dermatology concluded "The price of prescription dermatologic drugs rose considerably from 2009 to 2015, with the vast majority of price increases occurring after 2011. Percent increases for multiple, frequently prescribed medications greatly outpaced inflation, national health expenditure growth, and increases in reimbursements for physician services."Read this article: Changes in Solodyn® Prescription Prices.
A generic competitor to Solodyn® would increase competition and decrease profits. According to allegations in lawsuits filed over the past two years, the makers of Solodyn® engaged in meritless litigation in order to get makers of generic drugs to accept a cash payment for not bringing a competing drug to market. In this way, the makers of Solodyn® could keep their profits from Solodyn® rolling in, while the public paid a higher price.Read this article: Rite Aid Sues Solodyn®.
Walgreen Co. and several other companies filed a joint complaint accusing the makers of acne treatment Solodyn® of standing in the way of generic competition.Read this article: Walgreen Sues Solodyn.
The U.S. Judicial Panel on Multi-district Litigation agreed to consolidate a dozen proposed class actions accusing Medicis Pharmaceutical Corp. of colluding to keep a generic version of the acne medication Solodyn® off the market.Read this article: Consolidation of Medicis Lawsuits.
Medicis Pharmaceuticals, the maker of Solodyn®, was founded by Jonah Shacknai in Scottsdale, Arizona. In 2011, Mr. Shacknai's son, Max and his girlfriend, Rebecca Zahau, died within a couple of days of each other under some suspicious circumstances.Read this article: Medicis Mysterious Family Deaths.
Due to the drug maker's misleading statements about the side effects of Solodyn®, hundreds of individuals have sustained irreparable damages. If you or a loved one suffered from lupus, hepatitis, or vasculitis from taking Solodyn®, act now by requesting your free consultation—you may be eligible to receive financial compensation.LET'S GET STARTED