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Ariad Pharmaceuticals Raises Cancer Drug Price For The 4th Time This Year

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Ariad Pharmaceuticals Raises Cancer Drug Price For The 4th Time This Year

Drug pricing has been one of the central issues of the 2016 presidential campaign. There is currently a whirlwind of negative public sentiment swirling around controversial pricing practices of companies like Valeant Pharmaceuticals Intl Inc (NYSE: VRX), Mallinckrodt PLC (NYSE: MNK) and Mylan NV (NASDAQ: MYL).

With the election only about a month away, there has probably never been a worse time for a drug company to raise prices. But as the tweet below by @AndyBiotech shows, Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) certainly doesn’t seem to be deterred.

According to the tweet, Ariad has upped the price of its cancer drug Iclusig by 39 percent in 2016. While cancer patients are paying more for Iclusig, Ariad’s share price has more than doubled in 2016, up 121.3 percent.

Democratic presidential nominee Hillary Clinton has been very clear about targeting drug companies that can’t justify their price hikes.

“It’s wrong when drug companies put profits ahead of patients, raising prices without justifying the value behind them,” Clinton said back in August.

Related Link: Drug Pricing Was Not Even Mentioned At The First Presidential Debate

Surprisingly, the topic of drug pricing did not come up at the first presidential debate.

Mylan, Valeant and Mallinckrodt shares have all been hammered so far in 2016, down between 4.8 and 76.0 percent year-to-date.

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Posted-In: @AndyBiotech Andy Biotech Drug PricingBiotech News Politics Media General Best of Benzinga

 

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