Wednesday, December 5, 2012

More misery, more Money

Jazz Pharma Earnings Top Estimates As Xyrem Ramps
As usual, most of Jazz's sales came from its narcolepsy drug Xyrem, which provided 58% of revenue. It also continued to drive growth, rising 64% from Q3 2011.
On the conference call with analysts, Jazz CEO Bruce Cozadd said Xyrem volume rose 9% year over year, so much of the revenue growth was due to price increases. Xyrem is the only drug with U.S. approval for two symptoms of narcolepsy — daytime sleepiness and loss of muscle tone — so Jazz has been able to act like a semi-monopoly, charging tens of thousands of dollars per year for Xyrem
GHB is a drug that is about as easy and cheap to produce as alcohol...
Which explains how they pay for these lawyers:

Ruling Is Victory for Drug Companies in Promoting Medicine
In a case that could have broad ramifications for the pharmaceutical industry, a federal appeals court on Monday threw out the conviction of a sales representative who sold a drug for uses not approved by the Food and Drug Administration. The judges said that the ban on so-called off-label marketing violated the representative’s freedom of speech. ... 
The ruling, in United States v. Caronia, involved the conviction of Alfred Caronia, a former sales representative for Orphan Medical, which was later acquired by Jazz Pharmaceutical. Mr. Caronia was selling Xyrem, a drug approved for excessive daytime sleepiness, known as narcolepsy. He was accused of promoting it to doctors as a treatment for insomnia, fibromyalgia and other conditions. He became the target of a federal investigation in 2005 and was caught on an audiotape discussing the unapproved uses of the drug with a doctor who was a government informant. He was convicted by a jury in 2008.
Mr. Caronia appealed the conviction, arguing that his right to free speech under the First Amendment was being illegally restricted. The appellate court decision applies only to the Second Circuit, which comprises New York, Connecticut and Vermont, but some lawyers said that the government was likely to appeal and that the case could find its way to the Supreme Court.
That's your money and tax dollars going to fund the undermining of drug regulation- starting with the dangerous drug that doesn't even address the source of your illness.   It's gobsmacking.