Instead, the small biotech company is reducing what it charges hospitals, by up to 50 per cent, for its parasitic infection treatment, Daraprim. Most patients’ co-payments will be capped at $10 or less a month. But insurers will be stuck with the bulk of the $750 tab. That drives up future treatment and insurance costs.
[Martin Shkreli, chiel executive officer of Turing Pharmaceuticals and KaloBios Pharmaceuticals, Inc.] The 32-year-old likes sunglasses, golf shirts, the hip-hop artist Eminem, a bottle of 1982 Lafite-Rothschild, and jacking up the price of a pill used by people who suffer from HIV
Turing’s move comes after a pharmacy that compounds prescription drugs for individual patients, Imprimis Pharmaceuticals, started selling a custom-made version for 99 cents per capsule. Those sales weren’t a factor in Turing’s pricing strategy, chief marketing officer Nancy Retzlaff said Wednesday.
“This medication can be made for pennies. They need to reduce the price to what it was before,” he said.