$750 per pill Daraprim now has a $1 per pill competitor
56 replies, posted
[quote]Turing Pharmaceuticals sparked nationwide outrage and government investigations when it raised the cost of a generic drug used for AIDS and cancer from $13.50 to $750 a capsule.
Today, a San Diego biomedical company today introduced a competitor to that drug that sells for $1 a capsule.
Moreover, the company, Imprimis Pharmaceuticals, plans to compete against other manufacturers who sell generic drugs far above their cost. Like Daraprim, these drugs tend to be used in niche markets that don't attract much competition.
[...]
Imprimis' version is a combination of pyrimethamine along with another generic, leucovorin, a form of folic acid. Leucovorin helps cancer patients cope with chemotherapy.
Turing isn't the first company to suddenly raise the price of a generic drug. Valeant Pharmaceuticals became well-known for the practice. It raised the prices of two heart drugs, Nitropress and Isuprel, by a respective 212 percent and 525 percent immediately upon acquiring them.
Valeant's actions early this year provoked a storm of opposition. Politicians joined the fray, including Democratic presidential candidates Hillary Rodham Clinton and Bernie Sanders, the senator from Vermont who calls himself a democratic socialist.
But Turing took the practice to a previously unheard-of level, Imprimis CEO Mark L Baum said in a Thursday interview. Baum said the response of Imprimis provides a market-based answer to exorbitant drug pricing.
[...]
Imprimis said it now offers customizable compounded formulations of pyrimethamine and leucovorin in in capsules for as low as $99 for a bottle of 100 capsules. For more information, visit [url]www.imprimiscares.com[/url].
There's a limitation, Baum said: The formulation is not FDA-approved, and can legally only be sold through a doctor's prescription to a specific individual. The specific ingredients are FDA-approved, Baum said, and its compounding operations are FDA-inspected.
Filing for FDA approval of the compound itself would take years and millions of dollars, Baum said. By not filing, Imprimis can keep prices down and make a significant profit, even for less than $1 a capsule, Baum said in a Thursday interview.
The company has formed a division called Imprimis Cares to make special formulations including such high-priced generic drugs, he said. The division serves all 50 states, he said, and many more drugs are forthcoming.
"This is the tip of the iceberg," Baum said.
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[url=http://www.sandiegouniontribune.com/news/2015/oct/22/imprimis-turing-daraprim/]source[/url]
Is this at all surprising?
I still can't believe they pulled that fucking dick move to begin with.
I bet that prick will start panicking now
amazing pr move by big pharma :v:
[QUOTE=theevilldeadII;48962798]I bet that prick will start pancaking now[/QUOTE]
Only if the pancakes are sold at $750 a piece.
[editline]22nd October 2015[/editline]
But good on them. While it's not surprising that this happened, I wouldn't be too surprised if it didn't either.
This is basically a bitch slap to the face to that fucking CEO.
Cue Martin proceeding to wipe his tears off with dollar bills.
The very first thing i thought when i heard news about this guy was exactly this. Another pharmaceutical company is going to beat them into the dirt.
I hope he loses his company and all of his business over this. He should be barred from the pharmaceutical industry.
I bet Turing will sue these guys.
[QUOTE=Banhfunbags;48962872]I bet Turing will sue these guys.[/QUOTE]
on what grounds?
Well, if its the same drugs but not FDA approved it sounds ok to me. If my choices as a potential consumer of this drug are A.) death, B.) a life debt, or C.) taking unapproved drugs that should function correctly, sounds like my only real option is C.
[editline]22nd October 2015[/editline]
In case it was unclear, I don't need this drug.
[QUOTE=Ninja Gnome;48962916]on what grounds?[/QUOTE]
You need a reason to sue someone in the US?
[QUOTE=Senscith;48962929]You need a reason to sue someone in the US?[/QUOTE]
Yes
He wanted capitalism, he got capitalism.
[QUOTE=Senscith;48962929]You need a reason to sue someone in the US?[/QUOTE]
not for a civil suite necessarily, but uhhhh yes..?
[QUOTE=Senscith;48962929]You need a reason to sue someone in the US?[/QUOTE]
They could try to sue on copyright grounds. It's not unusual for companies to sue over the exact chemical composition of a compound for a drug.
What I'm looking forward to are the people who will say, "[I]the free market works, see?![/I]" after this, and happily ignore the untalked of cases where this happens.
Thank god Capitalism is working for once. It's still completely ridiculous that this was allowed to happen in the first place.
[QUOTE=theevilldeadII;48962798]I bet that prick will start panicking now[/QUOTE]
No he will sell the company with a huge severance package and retire. Honestly, with the profit he has made in the past few months, he doesn't need to worry about money.
I mean, I bet he entirely expected this to happen, he probably made more than enough during the period it was $750 to not care.
[QUOTE=Crazy Ivan;48963006]
What I'm looking forward to are the people who will say, "[I]the free market works, see?![/I]" after this, and happily ignore the untalked of cases where this happens.[/QUOTE]
[img]https://i.gyazo.com/e967a3b512e1992282538f8e1453d406.png[/img]
You mean like this?
From [URL="http://usuncut.com/class-war/martin-shkreli-explodes-1-dollar-aids-pill/"]another article[/URL]:
[QUOTE]US Uncut reached out to Shkreli for comment. His only response to us was “lol.”
[/QUOTE]
[QUOTE=Smug Bastard;48963196]From [URL="http://usuncut.com/class-war/martin-shkreli-explodes-1-dollar-aids-pill/"]another article[/URL]: [QUOTE]US Uncut reached out to Shkreli for comment. His only response to us was “lol.”[/QUOTE][/QUOTE]
:godzing:
[QUOTE=ossumsauce;48963170][img]https://i.gyazo.com/e967a3b512e1992282538f8e1453d406.png[/img]
You mean like this?[/QUOTE]
"for once"
nice try, though.
[QUOTE=Smug Bastard;48963196]From [URL="http://usuncut.com/class-war/martin-shkreli-explodes-1-dollar-aids-pill/"]another article[/URL]:[/QUOTE]
how the fuck did he become a ceo
I bet Sherkli is crying right now
[QUOTE=Crazy Ivan;48963006]They could try to sue on copyright grounds. It's not unusual for companies to sue over the exact chemical composition of a compound for a drug.
What I'm looking forward to are the people who will say, "[I]the free market works, see?![/I]" after this, and happily ignore the untalked of cases where this happens.[/QUOTE]
Turing's drug is already a generic though.
[QUOTE=Tigster;48963431]Turing's drug is already a generic though.[/QUOTE]
No it was name brand, his company was blocking generics by not selling wholesale either
Something tells me a bunch of the top drug ceos got together and realized that if they don't move to prevent this gigantic price jumping on old drugs, they'll start to see large investment pull outs of biomedical and dreaded price cap legislation on the horizon. Unfortunately while they pledge to make affordable generics for old drugs, I fear like other affordability programs this is just another token jesture and nothing short of an actual price regulation law will actually fix this problem
[editline]22nd October 2015[/editline]
The fact that they have to go around fda systems because Turing can prevent generics from being made by controlling who they sell to is sad though
[QUOTE=theevilldeadII;48963276]how the fuck did he become a ceo[/QUOTE]
rich daddy
[editline]22nd October 2015[/editline]
jk he's a hedge fund manager
[QUOTE=CoixNiro;48963263]"for once"
nice try, though.[/QUOTE]
I bet you're fun at parties.
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