William Barton
U.S. Sen. Elizabeth Warren has slammed GSK (NYSE:GSK) for alleged price-gouging over the marketing of its pediatric asthma drug Flovent HFA and its authorized generic.
In a statement released Monday, Warren accused GSK of discontinuing the branded version of the product “in order to evade new rebates it would have owed because of years of outrageous price hikes.”
She asserted that GSK’s authorized generic of the product is so expensive that most insurers won’t cover it, adding that the generic often cost more than the branded product.
“This is a shameful money grab that puts millions of children at risk and follows a year of aggressive price hikes by GSK that have allowed the company to top Wall Street’s expectations,” Warren added in her statement.
Warren said she is pushing for GSK to disclose the “true cost” of the authorized generic and what steps they plan to take to help patients who have lost access to the product.