US pharmaceutical company criticised for increasing price of acne cream to $10,000
Updated : 15:50
Novum Pharma has been criticised for bumping up the price of one of its skin creams by over 128%, in the latest instance of so-called "gouging" in the US healthcare market.
The Chicago-based drugmaker brought the price of its Aloquin acne cream to $9,561 for a 60g tube.
Similar moves from competitors where the prices of certain products skyrocketed has drawn criticism in the recent past. A drug for Aids patients sold by Martin Shkreli's Turing Pharmaceuticals for 5,556% above its previous price brought attention to bear on the practice last year.
The ingredients in Aloquin are said to be inexpensive, and the US Food and Drug Administration has rated it as "possibly effective".
The big pharmaceutical industry in the US has been attacked by the likes of Hillary Clinton and members of Congress.
Chief executive of Mylan, Heather Bresch, is due in front of a congressional hearing on Wednesday after the company raised the price of its Epipen by more than 500%.