Big Pharma firm hikes life-saving drug price by 5,500%

[singular_me]

Life-saving remains to be seen... but it surely helps make people sicker.

will aeon show us his life expectancy chart again?
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21 Sep, 2015 03:47

The medical community is outraged by a 5,500 percent price hike for Daraprim, after a big NY-based pharmaceutical company purchased the patent for it. The drug has been on the market for over 60 years, and can be essential to certain AIDS and cancer treatments.

The New York-based Turing Pharmaceuticals raised the price of Daraprim from $13.50 to $750 per pill in just over a month after buying the rights for the drug from Impax Laboratories.

The drug is used to treat toxoplasmosis, the second most common food-borne disease that affects patients suffering from AIDS and cancer. It has been produced since 1953 and is on the WHO List of Essential Medicines. But now medical associations are beating their drums about the sudden price hike and potential affordability of Daraprim as a treatment.

http://www.rt.com/usa/316046-pharma-daraprim-price-hike/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

[ShortJohnSilver]

How long do drug patents last? I thought they expired after 17 years?

[palani]

I thought they expired after 17 years?

No. You are confusing the patents with the patients.

[Horn]

If patents are anything like Sonny Bono, they can only be extending themselves into the afterlife 105 years.

http://gold-silver.us/forum/attachment.php?attachmentid=7868&stc=1

[Cebu_4_2]

Drug patents in the USi are 20 years.

[Ares]

Easy answer, don't use drugs.... Especially ones made my U.S. Pharmaceutical companies. Humans got along just fine without taking every anti-depressant under the sun, taking blood thinners or taking immune suppressants for plaque psoriasis etc.

I'd wager 90-95% of the conditions people go to the doctor for are because of diet.

[Cebu_4_2]

I'd wager 90-95% of the conditions people go to the doctor for are because of diet.

And environment.

[singular_me]

my neighbor got a common colon infection and the doc told her that she must have shook hands with someone who didnt wash her/his hand after going to the bathroom. LOLOLOL

the sad part is that she truly believes it. The food chain is completely poisoned, so as long as it isnt fixed, let alone finding a real diagnostic.

[madfranks]

Only in a "market" that outlaws competition can a single party jack prices up 5,500% and get away with it.

[Dogman]

Only in a "market" that outlaws competition can a single party jack prices up 5,500% and get away with it. Not sure , but I think this show is not over yet, only the first shot has been fired.

I suspect many more are going to follow.

Very bad and wide spread PR may bite him (new owner, plus having the sin of being young and greedy) in the ass.

Got popcorn and the time to see how this is going to play out.

It does suck that there is not a generic replacement!

[Cebu_4_2]

It does suck that there is not a generic replacement!

No generics allowed until the patent runs out.

[Dogman]

No generics allowed until the patent runs out. Been looking into this one and it seems that is not so much as a patent issue, but worldwide usage issue. The use is so low world wide and it seems that only one company makes it is a single source world wide !

Any company can make it but it seems the investment returns are nadda,

Only 800 to 12 thou scripts are filled any year going by what I can find quickly.

Probably not worth the effort for any other big pharmacy co's to bother with, the investment return is just not there.

And the ratio is much worse when it comes to the price.

Not so very long ago, the pills went for about a buck each, but the cost went up into the teens when the origional company got bought out.

Then that company got bought by that young greedy and with questionable ethics bastard.

So it is not a patent issue , it is a profit issue, in that for the investment vs profit for other company's to make the dam stuff.

Its other name is

Pyrimethamine


https://en.wikipedia.org/wiki/Pyrimethamine

[Horn]

Any company can make it but it seems the investment returns are nadda,

A 5,500% increase should fix something there.

[Cebu_4_2]

n the United States, as of 2015, with the acquisition of U.S. marketing of Daraprim tablets by Turing Pharmaceuticals (https://en.wikipedia.org/wiki/Martin_Shkreli),[14] (https://en.wikipedia.org/wiki/Pyrimethamine#cite_note-14) Daraprim has become a single-source and specialty pharmacy item, and the cost of Daraprim has increased.[15] (https://en.wikipedia.org/wiki/Pyrimethamine#cite_note-pt-15) The cost of a monthly course for a person on 75 mg dose rose to about $75,000/month, from $13/tablet to $833/tablet,[16] (https://en.wikipedia.org/wiki/Pyrimethamine#cite_note-16) or $750 per tablet per a New York Times report from September 2015.[17] (https://en.wikipedia.org/wiki/Pyrimethamine#cite_note-nyt-17)[18] (https://en.wikipedia.org/wiki/Pyrimethamine#cite_note-18) Outpatients can no longer obtain Daraprim from their community pharmacy, but only through a single dispensing pharmacy, Walgreens Specialty Pharmacy, and institutions can no longer order from their general wholesaler, but have to set up an account with the Daraprim Direct program.[15] (https://en.wikipedia.org/wiki/Pyrimethamine#cite_note-pt-15) In India, multiple combinations of generic pyrimethanine are available for a price ranging from U.S. $0.05–$0.10 each (3–7 rupees)[19] (https://en.wikipedia.org/wiki/Pyrimethamine#cite_note-19).
In the UK, Daraprim is available from GSK at a cost of U.S. $20 (£13) for 30 tablets (approx. $0.66 each)[20] (https://en.wikipedia.org/wiki/Pyrimethamine#cite_note-20).

[Cebu_4_2]

As the plot thickens...

Martin Shkreli (born April 1, 1983) is an Albanian American (https://en.wikipedia.org/wiki/Albanian_American)[1] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-BioPortfolio-1) hedge fund (https://en.wikipedia.org/wiki/Hedge_fund) manager and entrepreneur, specializing in healthcare businesses and is a co-founder of MSMB Capital Management, of Retrophin, Inc. and the founder of Turing Pharmaceuticals AG. He is a co-founder and was the Chief Executive Officer of Retrophin LLC, a biotechnology (https://en.wikipedia.org/wiki/Biotechnology) firm founded in 2011.[2] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-Bloomberg-2)[3] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-Retrophin-3)
In September 2015, he was criticized by several public health organizations for obtaining manufacturing licenses on old, out-of-patent (https://en.wikipedia.org/wiki/Chemical_patent), life-saving medicines including pyrimethamine (https://en.wikipedia.org/wiki/Pyrimethamine) (brand name Daraprim) and increasing the prices of the drugs in the US, sometimes by more than 5000%. Pyrimethamine is listed in the WHO Model List of Essential Medicines (https://en.wikipedia.org/wiki/WHO_Model_List_of_Essential_Medicines), a list of the most important medications needed in a basic health system. He was accused of manipulating the price and taking these basic drugs out of of reach of millions of needy patients worldwide.[4] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-The_New_York_Times-4)

[Dogman]

A 5,500% increase should fix something there.True, but if the ones that need it to survive die by starvation because they can not afford house nor food, the usage will take a very big dump!

Only the rich could afford it, and most rich are not the sweat off any true mans balls, so why in the hell keep making it..

Sure gov subsides will get it for it at a lower price than us mortal types, but I suspect that young bastard will still get richer, he says the increase in price will pay for research, to make or find a better drug to replace it.

Sure and the moon is made out of purple cheese.

[Cebu_4_2]

Turing Pharmaceuticals As executive chairman of Turing Pharmaceuticals, in August 2015 Shkreli raised the price of Daraprim (https://en.wikipedia.org/wiki/Daraprim) from $13.50 per pill to $750 per pill — a 5,455% increase[4] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-The_New_York_Times-4) — shortly after purchasing the marketing rights to the drug for $55 million from Impax Laboratories (https://en.wikipedia.org/wiki/Impax_Laboratories). Turing has exclusive marketing rights to Daraprim, which has been available since 1953.[14] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-14) While the patent has long expired, no company is currently manufacturing generic pyrimethamine.[15] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-15)

[Dogman]

Turing Pharmaceuticals

As executive chairman of Turing Pharmaceuticals, in August 2015 Shkreli raised the price of Daraprim (https://en.wikipedia.org/wiki/Daraprim) from $13.50 per pill to $750 per pill — a 5,455% increase[4] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-The_New_York_Times-4) — shortly after purchasing the marketing rights to the drug for $55 million from Impax Laboratories (https://en.wikipedia.org/wiki/Impax_Laboratories). Turing has exclusive marketing rights to Daraprim, which has been available since 1953.[14] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-14) While the patent has long expired, no company is currently manufacturing generic pyrimethamine.[15] (https://en.wikipedia.org/wiki/Martin_Shkreli#cite_note-15) I did say young bastard with questionable ethics , did I not.

He is dirty.

[Cebu_4_2]

Turing Pharmaceuticals AG is a privately-held biopharmaceutical company with offices in New York City. Turing focuses on developing and commercializing innovative treatments for serious diseases and conditions across a broad range of therapeutic areas, for which there are currently limited or no treatment options. For more, visit www.turingpharma.com (http://www.turingpharma.com/) .

[Dogman]

Word is just out the bastard is reducing the price,

How much?

Time will tell on how much.

The media backlash may have gotten to him.


Popcorn anyone, I gots mine...

Popped in the worlds greatest corn popper , a wok ! ;D

[Hitch]

Drug patents in the USi are 20 years.

That's probably a lot longer than drug patients survive in the US.

Big pharma. Dumbing us down and drugging us up at the same time. What a roller coaster. Who knew we would reach this point, by design, we should all see this by now.

It's all a big racket. Just put a bullet in our heads and charge us $1000 for it. Be honest about it. More kids will replace us, just keep the entitlement programs going and everything will be just fine.

[ShortJohnSilver]

OK so what is to stop the guy from buying the tablets from India, re-marking them, and selling them? No work required, only profit.

PS very likely he is a Tribe member.

[Neuro]

OK so what is to stop the guy from buying the tablets from India, re-marking them, and selling them? No work required, only profit.

PS very likely he is a Tribe member.
Exactly, a generic is sold in India at 5-10 cents a piece. Probably the greedy bastard didn't know it, and probably not many others either until he decided to shock raise the price... Hehehe. Now he may have to lower the price instead of raising it, to compete with the Indian generic. I love it when these things comes and bites assholes in the ass...

[palani]

I love it when these things comes and bites assholes in the ass...

Should his face became well known he might find himself in a restaurant sometime ordering a steak dinner and be presented with a dinner bill of $25,000 .... if the practice works for him it should work against him.