Colchicine is a commonly used drug to treat gout. It used to cost pennies a pill, but now its price has since soared to $5 or more a pill.
What happened? It’s an unintended consequence of FDA regulation. Colchicine had been used for centuries, but was caught up with the FDA’s zeal to regulate unapproved drugs. A profit-driven pharmaceutical company swooped in at the opportunity, and performed the studies showing that the drug, of course, was safe. It then began selling it at markedly higher prices, and is suing the generic manufacturers for infringing on its branded drug.
The biggest loser, of course, are patients. What normally would cost $5 to $10 a month, now costs up to $150 monthly.