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Turing refuses to reduce the price of Daraprim

Turing Pharmaceuticals, which sparked fury two months ago by increasing the price of the drug Daraprim, said Tuesday that it would not reduce the list price of that drug after all, reports The New York Times.

Daraprim is a preferred treatment for toxoplasmosis, a rare parasitic infection that affects people with weak immune systems including those with HIV.

Turing’s chief executive, the former hedge fund manager Martin Shkreli, had said in interviews that Turing would cut the price of the drug, Daraprim. But he had never said by exactly how much, although at one point he suggested it might be by about 10 percent.

In announcing its decision on Tuesday, Turing said it was not as important to cut the list price as to reduce the cost to hospitals, where most patients get their initial treatment.

Turing founder Shkreli acquired the 62-year-old drug in August for $55 million and immediately raised the price from $13.50 to $750 per pill.

Watch below as Shkreli talks to CNBC about the 5,000 perent price hike back in September.



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Posted by on Nov 28, 2015. Filed under Around the Nation, Online Only, Top Highlights. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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