Pharma bro Martin Shkreli gets screwed as rival plans to offer $1 Daraprim
- 9 years ago
SAN DIEGO, CALIFORNIA — Looks like not all pharmaceutical companies are filled with complete douchebags. Imprimis Pharmaceuticals Inc., a maker of compounded drugs, will start to sell $1 doses of Daraprim, whose price was recently jacked up to $750 per pill by Martin Shkreli and Turing Pharmaceuticals.
The San Diego-based company announced on Thursday it will sell capsules containing Daraprim's active ingredients, pyrimethamine and leucovorin, for $99 for a 100-capsule bottle online. Imprimis mixes approved drug ingredients to fill individual patient prescriptions.
The company also plans to start making inexpensive versions of other generic drugs whose prices have gone through the roof, Chief Executive Mark Baum said.
"We are looking at all of these cases where the sole-source generic companies are jacking the price way up," Baum said. "There'll be many more of these" compounded drugs expected in the future.
The recent practice of companies like Turing, Valeant Pharmaceuticals International Inc. and other companies buying rights to old, inexpensive medicines that are the sole treatment for serious diseases and then jacking up the prices has angered patients and regular Americans.
Head of Turing Pharmaceuticals, former hedge fund manager Martin Shkreli, became the most hated man in the U.S. last month after he hiked the price of Daraprim by more than 5000 percent after spending $55 million to buy the rights to the 62-year-old drug used to treat toxoplasmosis.
Imprimis will work with health insurers and prescription benefit managers across the nation to make its new capsules and other compounded generic medicines widely available, Baum said.
Compounded drug makers don't need FDA approval to make their drugs because they make them in much smaller batches than compared to Big Pharma companies.
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The San Diego-based company announced on Thursday it will sell capsules containing Daraprim's active ingredients, pyrimethamine and leucovorin, for $99 for a 100-capsule bottle online. Imprimis mixes approved drug ingredients to fill individual patient prescriptions.
The company also plans to start making inexpensive versions of other generic drugs whose prices have gone through the roof, Chief Executive Mark Baum said.
"We are looking at all of these cases where the sole-source generic companies are jacking the price way up," Baum said. "There'll be many more of these" compounded drugs expected in the future.
The recent practice of companies like Turing, Valeant Pharmaceuticals International Inc. and other companies buying rights to old, inexpensive medicines that are the sole treatment for serious diseases and then jacking up the prices has angered patients and regular Americans.
Head of Turing Pharmaceuticals, former hedge fund manager Martin Shkreli, became the most hated man in the U.S. last month after he hiked the price of Daraprim by more than 5000 percent after spending $55 million to buy the rights to the 62-year-old drug used to treat toxoplasmosis.
Imprimis will work with health insurers and prescription benefit managers across the nation to make its new capsules and other compounded generic medicines widely available, Baum said.
Compounded drug makers don't need FDA approval to make their drugs because they make them in much smaller batches than compared to Big Pharma companies.
-------------------------------------------------------------
Welcome to TomoNews, where we animate the most entertaining news on the internets. Come here for an animated look at viral headlines, US news, celebrity gossip, salacious scandals, dumb criminals and much more! Subscribe now for daily news animations that will knock your socks off.
Visit our official website for all the latest, uncensored videos: http://us.tomonews.net
Check out our Android app: http://bit.ly/1rddhCj
Check out our iOS app: http://bit.ly/1gO3z1f
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Twitter @tomonewsus http://www.twitter.com/TomoNewsUS
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Instagram @tomonewsus http://instagram.com/tomonewsus