Pill that went from $13 to $750 now has a $1 rival

Pill that went from $13 to $750 now has a $1

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Contd…In a demonstration of arbitrary pricing of medicines, pyremethamine, used to treat protozoal infections, went from $13 to $750 a pill in the US, an over 5,000% increase, and down to $1per pill for a new version, all in a span of just over a month. The new $1 pill is being produced by a small San Diego-based company called Imprimis Pharmaceuticals. Daraprim, or branded pyremethamine, was bought from its producer by Turing Pharmaceuticals owned by a hedge fund manager Martin Shkreli, who then hiked the price to $750 becoming “the poster child for big pharmaceutical greed“.Despite widespread protest over the massive price hike of a 62-year-old off-patent drug, Shkreli failed to bring down the price after promising he would do so. Daraprim, which treats an uncommon parasitic infection, toxoplasmosis, is critical for treating immune compromised patients of HIVAIDS, cancer and pregnant women.

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Contd…Imprimis Pharmaceuticals is a compounding pharmacy , which in the US means a company which mixes approved drug ingredients to prepare medicines based on a doctor's prescription. This three-and-a-half year old company is producing a formulation of Daraprim's active ingredients, pyremethamine and leucovorin.The Imprimis formulation is not approved by the US Food and Drug Administration (FDA), but compounded formulations are allowed to be sold legally in the US as long as it is through a doctor's prescription. Compounding pharmacies do not need FDA approval unlike large pharma companies that mass produce drugs on complex production lines. The increasingly complicated regulations around FDA drug approval would have meant several years and millions of dollars for Imprimis and that would not have allowed it to keep the price affordable.

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Pill that went from $13 to $750 now has a $1 rival

Health & Medicine

Transcript of Pill that went from $13 to $750 now has a $1 rival