In the United States, a drugs manufacturer producing a drug used in the treatment of cancer now faces legal action for hiking the price of the life-saving medicine by 1400 per cent in the last four years. In these four years, the company revised the price of the drug nine times.

It has been reported that the drug named as Lomustine being prescribed for more than 40 years to patients suffering from cancerous diseases such as brain tumours, lung cancer and Hodgkin's lymphoma, has now become too expensive for patients. The shocking fact that has come to light is that the drug which was being sold for about $50 a capsule four years ago is now selling at $768 per capsule.

In 2013, production of the drug, previously called CeeNU, was passed on from pharma giant Bristol-Myers Squibb to Miami-based startup named NextSource Biotechnology. The new manufacturer NextSource kept on increasing the price of the drug which is presently available for $768 per capsule. And yes, in the last four years, there has been no generic change in the drug's composition.

What has also complicated the matter is that despite the company's patent over the drug having expired which would have allowed other companies to manufacture it, no other company is presently producing the drug. So, since NextSouce doesn't face any competition, it has been increasing the price at will.

In less than five years, the company increased the price nine times. This year alone, the price of the medication has been revised twice, once by 20 per cent in August, followed by a hike of 12 per cent in November, according to a report of the Wall Street Journal.

The company has, however, defended the massive increase in the price claiming that the costs have increased. It has also claimed that it sets the price of the drugs based on how much the drug benefits the patients. But is that ethical, and can a drug's benefits be ever measured in monetary terms? This is something no one seems to have an answer to.