Abbott reduces AIDS drug price amid budget woes (for some customers)

[The Straight Story]

Abbott reduces AIDS drug price amid budget woes

Abbott Laboratories this week reduced the price of its popular AIDS drug Kaletra for some customers.

The move, disclosed Friday during the company's annual shareholders' meeting, comes amid reductions in government spending on programs for low-income Americans with HIV, which has made it hard for patients to afford medicine.

Across the country, cash-strapped states including Illinois have and curtailed eligibility for people enrolled in AIDS Drug Assistance Programs, which also receive federal funds. The problem also comes at a time AIDS drug assistance programs are seeing an influx of applicants given stubbornly high unemployment that has caused people to lose health coverage and therefore their ability to pay for HIV prescriptions.

Two weeks ago, the Illinois health department announced said it would restrict patient access starting in July to the state's AIDS Drug Assistance Program to "new applicants with incomes at or below 300 percent of the federal poverty level" or $32,670 for a single individual." Currently, the qualification for the program is 500 percent of the federal poverty level or $54,450 for a single individual.

http://www.chicagobreakingbusiness.com/business/chibrkbus-abbott-labs-shareholders-ok-with-executive-pay-20110429,0,3799391.story

[pinto]

1. A bit of good news for State ADAPS.

:thumbsup:

[Liberal_in_LA]

2. good news