By Reuters Staff
2 Min Read
Jan 21 (Reuters) - New York Governor Andrew Cuomo said on Thursday the Department of Financial Services was investigating into a price jump of about 60% to 1,350% in six drugs during the COVID-19 pandemic.
New York has asked drug manufacturers to explain the large spike in prices of the drugs, which included dexamethasone, a treatment proven to decrease deaths in COVID-19 patients, and chloroquine phosphate, which was touted by former President Donald Trump as a cure, but turned out ineffective.
The price for Cipla USA Inc’s Budesonide soared by over 1,350% during the first wave of the pandemic in the United States and on the heels of an announcement of clinical trials for its use against COVID-19, according to a statement released by the governor.