Page 1 of Price-Gouging Pharma CEO Fuming As Rival Creates $1 Alternative AIDS Drug
I thought I read the original story here, but must have been on facebook, a lot of understandable outrage after a company purchased the rights to make a drug, then raised price by an obscene amount, however now there's an alternative...
Price-Gouging Pharma CEO Fuming As Rival Creates $1 Alternative AIDS Drug
As is well-known by now, one of the side effects of Daraprim, a medication needed by many AIDS and cancer patients, is uncontrollable rage — not because of any chemical properties of the drug itself, but because Martin Shkreli’s Turing Pharmaceuticals raised the price by more than 5,000 percent immediately after purchasing the rights to the medication. Until Shkreli’s greed caused the price to very quickly inflate, the lifesaving pill, which has been on the market longer than Shkreli has been alive, sold for just $13.50 per pill.
San Diego-based Imprimis Pharmaceuticals, Inc announced on Thursday that it will be providing an alternative to Daraprim that costs a fraction of the pill’s pre-Shkreli price. The drug will be sold at as low as $99 for a 100-pill supply.Yes, that’s just about a dollar per pill.
This item was edited on Friday, 23rd October 2015, 12:54
Company That Upped Drug Price By 5,000% Reports $14.6 Million Loss In Three Months
Turing Pharmaceuticals has reported a $14.6 million (£9.6 million) net loss in their third-quarter, from July to the end of September, this year.
In mid-August, the pharmaceutical company purchased the rights of Daraprim and raised the price by over 5,000 percent, making the cost of the pill rocket from $13.50 (£8.70) a tablet to $750 (£485). The drug is used by patients with AIDS or cancer to fight theToxoplasma gondii parasite. More than 60 million Americans carry the parasite without coming to harm, but it can lead to seizures, blindness or neurological damage to those with a compromised immune system.
Whilst enjoyable to read the greedy arseholes lost money, to them it's probably like losing 20p to us. :(
My Flickr Photostream
The karma porn continues:
damn I really am in the wrong line of work ;)
Wu-Tang Clan album bought by Martin Shkreli sold by US government
The US government has sold a one-of-a-kind Wu-Tang Clan album previously owned by a drug firm executive once dubbed the "most hated man in America".
Martin Shkreli, who became notorious for hiking the price of a life-saving drug, bought Once Upon a Time in Shaolin for $2m (£1.4m) in 2015.Quote:
After learning that Shkreli had bought the album, the group decided to donate "a significant portion" of their proceeds to charity, Wu-Tang member RZA told Bloomberg.