10-23-2015, 01:53 PM
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Join Date: Jul 2015
Location: Los Angeles
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Price gouging Aids drug from $13.50 to $750 per pill Backfires
Quote:
The fervor over a drug company?s decision to hike the price of a drug used to treat a potentially deadly parasitic disease has drawn at least one market competitor to attempt an alternative.
San Diego-based Imprimis Pharmaceuticals said it would offer customized versions of its drugs for less than $1 a pill as an alternative to Daraprim.
Turing Pharmaceuticals was indundated with criticism last month when it raised the price of Daraprim by more than 5,000%, from $13.50 a pill to $750. The Food and Drug Administration-approved Daraprim is used to treat toxoplasmosis, a parasitic disease that afflicts people with weakened immune systems, such as those with AIDS and pregnant women.
Investors applauded the move, driving Imprimis shares (IMMY) up 7% to $6.41 in early trading Friday.
To be sure, the FDA has not approved Imprimis? compounded drug formulations as a recommended treatment for toxoplasmosis.
But doctors can prescribe the medications for individuals when they perceive it to be a viable alternative treatment.
The Imprimis oral capsules ? which are customized formulations of its pyrimethamine and leucovorin treatments ? will be offered starting at $99 for a 100-count bottle.
?Recent generic drug price increases have made us concerned and caused us to take positive action to address an opportunity to help a needy patient population,? Imprimis CEO Mark L. Baum said in a statement. ?While we respect Turing's right to charge patients and insurance companies whatever it believes is appropriate, there may be more cost-effective compounded options for medications, such as Daraprim, for patients, physicians, insurance companies and pharmacy benefit managers to consider.?
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Drug company attempts $1 alternative to Daraprim |
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