Bernie Sanders just called out a drug company that jacked up the price of its leukemia drug four times this year
Senator Bernie Sanders just called out Ariad Pharmaceuticals over the price of its leukemia drug, and the company's stock is dropping.
Ariad, which makes a drug called Iclusig, has raised the price of the drug four times this year, The Street reports. It now costs $199,000 a year, before factoring in insurance or any discounts. The company's stock was down 10% Friday afternoon.
When it was first approved in 2012, the drug cost $9,580 a month. Now, it costs $16,560 a month, a 73% increase. Along the way, the drug has had some safety problems and actually got pulled off the market in 2013 by the FDA, but a few months later was reinstated with warnings about cardiovascular problems that may occur.
Here's what the stock looked like Friday afternoon.
