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Article: State Medicaid Heads Pressed by AIDS Healthcare Foundation to Demand Guarantees Against Loss Due to Abbott's Recent 400% Price Increase on Norvir; US' Largest AIDS Group Writes to State Medicaid Directors Urging They Read 'Fine Print' of Abbott's Price Increase on Key AIDS Drug. Despite Pharmaceutical Giant's Assurances, AHF Projects Steep Cost Increases on Norvir To Cash-Strapped Medicaid Programs Nationwide.
- Article from:
- PR Newswire
- Article date:
- February 2, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, Feb. 2 /PRNewswire/ -- AIDS Healthcare Foundation (AHF), the largest AIDS organization in the US which operates clinics in the US, Africa and Central America, today sent letters to the directors of all state Medicaid programs in the US to ask the Medicaid heads to press Abbott Laboratories to guarantee they would indemnify all of their "Medicaid programs ... against any loss" as a consequence of Abbott's recent unprecedented 400% price increase on their key protease inhibitor, Norvir, (effective December 3, 2003). Due to the December price increase, the cost of a typical one-day supply of Norvir (100mg) has skyrocketed from $1.71 per day to $8.50 per day.
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