Sen. Schumer Calling For FTC Investigation Of ‘Gray Market’ Drugs

ALBANY, N.Y. (CBSNewYork/AP) — U.S. Sen. Charles Schumer is calling for a federal investigation of so-called “gray market” sales of drugs at inflated prices to hospitals that are facing shortages of some medications.

LISTEN: 1010 WINS’ Glenn Schuck reports

Schumer says in recent months, the “gray market” drug resellers are holding hospitals hostage by marking up prices of life-saving drugs as much as 4,000 percent.

“So today I’m calling on the Federal Trade Commission to launch an investigation into possible price gouging of the so-called ‘gray market’ drug distributors,” Schumer said Sunday. “It’s simply unconscionable for any drug reseller to purchase an already limited supply of drugs for the simple purpose of turning an outrageous profit.”

The New York Democrat says these gray market prices can be hundreds of times the normal costs.

There is a growing national crisis in the availability of drugs for cancer, infections and other serious ailments.

The secondary distributors say they must charge far more because they don’t get the big rebates manufacturers give primary distributors. They also have high costs in the legal trade to locate and transport batches of scarce drugs.

What do you think? Sound off below in our comments section…

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

  • Meme Meyagi

    what is being done about 7 million mooslime terrorists living in usa?

  • xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    Does anyone really think Chuck the duck thought of this himself.This guy is a fraud and his wife looks like a man

  • pete

    Charlie is at it again, that is “proposing” and “suggesting”. Did we ever hear the end of it, did he ever work towards a solution? This guy is the biggest phony in Washington and the American People need him like a hole in the head!!!

  • Rossevelt Malik Jones III

    I need drugs just to listen to Chuck….

  • peter

    Another safe issue for Sunday Chuck to get the media gathered around for a photo-op.Why did he not address the OWS situation?NYC is part of his state the last time I looked.I guess he is waiting for the official Obama,Pelosi,Reid position paper before he opens his mouth on something that might be considered controversial.IF OWS is to have any meaningful impact,it must organize and vote to rid the country of these lifetime politicians who represent only themselves and their special interests.Get candidates to run in the primary elections the way the Tea Party did.Don’t settle for business as usual,regardless of what party is in.

  • IF


  • Liberals are Evil

    Schumer the schmuk!

  • Kevin

    Leave it ole Chuckie the Cheese to come out of the woodwork on the weekends.

  • TexanPatriot

    The “problem” here is that some hospitals are escaping the Obamacare net…what they are SUPPOSED to be doing is to deny treatments that the FDA artificially induced shortages are creating….

    This is how our soon-to-be death panels will work…you just simply cut off expensive or undesirable drugs, or limit production…that’s how you drive costs down in the health care world.

    We didn’t have these problems 3 years ago, but since the FDA has been delisting various drugs or putting the screws to manufacturers production has fallen…all according to Berwick’s rationing plan.

    Nice going Socialists! You’re dong exactly what the “people” want you to do…..and voted you to do…….

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