Flu vaccine ‘shortage’ spurs price gouging

It’s become rather predictable. Each year, we have a so-called “flu vaccine shortage” that spurs demand for – and hikes the price of – the drug. In 2004, the shortage made headlines, had people queuing up in long lines, and sent the drug’s cost soaring.

The American Society of Health-System Pharmacists conducted a survey of more than 2,800 hospital pharmacy directors in the U.S. and preliminary results (as of Oct. 12) revealed that in just the few days after the influenza vaccine shortage was announced, more than 55% of respondents reported that they had been contacted by opportunistic vendors offering to sell flu vaccine at highly inflated prices.

Of the hospitals contacted by opportunistic vendors, more than 80% reported being offered the vaccine at more than four times the original market value. Nearly 20% had been offered the vaccine at $800 or more per 10-dose vial, more than 10 times the original market value.

SOURCE: “Survey of Hospitals Quantifies Flu Vaccine Price Gouging,” American Society of Health-System Pharmacists (ASHP), Oct 12, 2004.