Drugmaker Hikma's U.S. unit raises medicine prices -Financial Times

Last Updated: 2017-08-21

By Reuters Staff

NEW YORK (Reuters) - Hikma Pharmaceuticals Plc's U.S. subsidiary has raised the price of a common diarrhea drug by more than 400% and is charging more for five other medicines as well, the Financial Times reported on Sunday.

The average wholesale price of a 60-mL bottle of liquid atropine-diphenoxylate, the common diarrhea drug also known as Lomotil, went from about $16 a bottle to $84, the FT reported.

West-Ward Pharmaceuticals, the U.S. division of London-listed Hikma, increased the prices at the start of August by between 75% and 430%, for a mean of 237%, according to figures seen by the Financial Times.

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.

Among the six drugs, West-Ward is either the only U.S. supplier or one of two manufacturers.

Brian Hoffmann, president of U.S. generics at West-Ward, said the prices of 94% of the group's copycat medicine portfolio had either fallen or stayed the same in 2017, and that they had fallen overall this year.