by Richard Mellor
The Meningitis scandal that broke out last year at the New England Compounding Center is yet another example of the complete bankruptcy of the private for profit medical industry in the US. As I commented in a blog back then, the deaths associated with this outbreak are not an accident. Compounding pharmacists are businesses that mix certain drugs for people that might be allergic to a compound in the regular prescription. There were warnings about the dangers due to the lack of regulation in these small drug companies and Congress passed legislation to treat them more like regular drug companies, but the lobbyists for the industry successfully curbed the FDA's interference in their profit making enterprise and the law was repealed.
Now, after afflicting almost 700 people and killing 44, the New England Compounding Pharmacy is back in the news as its victims seek a court order that will allow them to receive compensation. The problem is that before seeking bankruptcy protection, the "company", which speaks for itself as a company has the same rights as an individual in US law, doled out millions of dollars to company insiders, including the owners Barry and Lisa Cadden. "The company's assets are little or nothing and we know why" says an attorney representing creditors also seeking recompense.
Continue reading here
The Meningitis scandal that broke out last year at the New England Compounding Center is yet another example of the complete bankruptcy of the private for profit medical industry in the US. As I commented in a blog back then, the deaths associated with this outbreak are not an accident. Compounding pharmacists are businesses that mix certain drugs for people that might be allergic to a compound in the regular prescription. There were warnings about the dangers due to the lack of regulation in these small drug companies and Congress passed legislation to treat them more like regular drug companies, but the lobbyists for the industry successfully curbed the FDA's interference in their profit making enterprise and the law was repealed.
Now, after afflicting almost 700 people and killing 44, the New England Compounding Pharmacy is back in the news as its victims seek a court order that will allow them to receive compensation. The problem is that before seeking bankruptcy protection, the "company", which speaks for itself as a company has the same rights as an individual in US law, doled out millions of dollars to company insiders, including the owners Barry and Lisa Cadden. "The company's assets are little or nothing and we know why" says an attorney representing creditors also seeking recompense.
Continue reading here
No comments:
Post a Comment