Oxycodone pain pills. Photo: John Moore/Getty Images

Federal regulators and fentanyl manufacturers didn't take action when it became clear that highly potent fentanyl products were being inappropriately prescribed to as many as half of the patients taking them, according to a new study in the Journal of the American Medical Association.

How it works: The type of fentanyl in question is approved by the Food and Drug Administration only for adult cancer patents who have already built up a tolerance to less potent opioids.

  • An FDA monitoring program requires that all doctors, pharmacists and patients involved in prescribing, dispensing and using these drugs certify that they understand their proper use.
  • The FDA also requires manufacturers to demonstrate that they are in compliance with the rules.
  • In surveys by drugmakers, most doctors, pharmacists and patients indicated that they understood how these fentanyl drugs were supposed to be used, but some providers were prescribing them for off-label use anyways.

The bottom line: In 2016, drugmakers found that between 34.6% and 55.4% of patients receiving this kind of fentanyl did not have opioid tolerance, meaning the drug was being misused.

  • Despite this information, neither the FDA nor drugmakers took action to end the inappropriate prescribing.

Go deeper: Opioids app aims to lower response times for overdose victims

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The big picture: The U.S. drug pricing system is filled with confusing numbers, and many entities profit off the flow of drugs, but pharmaceutical companies retain a vast majority of the proceeds.

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The big picture: This is the latest example of how the world's wealthiest country just can't get it together.

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The scene near the Royal Exchange and the Bank of England in the City of London, England. Photo: Tolga Akmen/AFP via Getty Images

The United Kingdom slumped into recession as its gross domestic product GDP shrank 20.4% compared with the first three months of the year, the Office of National Statistics (ONS) confirmed Wednesday.

Why it matters: Per an ONS statement, "It is clear that the U.K. is in the largest recession on record." The U.K. has faired worse than any other major European economy from coronavirus lockdowns, Bloomberg notes. And finance minister Rishi Sunak warns the situation is likely to worsen.