Article about KV Pharmaceutical's Bankruptcy on Econlib
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My article discussing the drug company KV Pharmaceutical and its drug Makena was published today by the Library of Economics and Liberty. Here's the blurb:

Since 1938, the Food and Drug Administration has required that pharmaceutical drugs be proven safe before they are allowed to be sold. In 1962, Congress added a requirement for proof of efficacy. So you would think that the FDA would be a strong enforcer of those requirements, right? Well, not in one case. Despite the law, the FDA, pressured by Congress, refused to enforce the standards on companies that made one particular compound. Thus, via a bait-and-switch tactic, the FDA pushed the only company actually following the rules into bankruptcy. Read on.

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