Valeant Pharmaceuticals International, Inc., has announced that it will make available to all hospitals in the United States an enhanced rebate program to reduce the prices of Nitropress (nitroprusside) and Isuprel (isoproterenol).
Under the enhanced program, all hospitals are eligible for a rebate of at least 10%, with rebates totaling 20%, 30%, or 40% based on the volume purchased during a calendar quarter for hospitals that purchase large volumes of the relevant drug. Hospitals will receive these discounts primarily through their group purchasing organization (GPO). Hospitals that don’t buy drugs through a GPO can access the program by contacting Valeant customer service.
The rebate program is effective immediately, with hospitals receiving rebates after the end of the quarter in which the purchases were made. According to Valeant, there will be no further price increases for these products, nor will there be more reductions to the discount levels in the rebate program.
Valeant is being investigated by the U.S. Senate for hiking the price of Isuprel by approximately 720% and Nitropress by 310% after buying both drugs from Marathon Pharmaceuticals in 2015. The Senate has also investigated price increases on two other Valeant drugs, Syprine (trientine) and Cuprimine (penicillamine), which are used to treat Wilson’s disease, a rare genetic disorder.
Sources: Valeant Pharmaceuticals; May 16, 2016; and Reuters; May 16, 2016.