YOUR FAVORITE LOGO TV SHOWS ARE ON PARAMOUNT+

Pharma CEO Martin Shkreli Renegs On Promise To Lower Price On Lifesaving AIDS Drug

"A reduction in Daraprim’s list price would not translate into a benefit to patients," said a spokeswoman for Turing Pharmaceuticals.

You’d think the public lashing he received after upping the price of a lifesaving drug that fights toxoplasmosis in AIDS and cancer patients would instill some humility in Turing Pharmaceuticals CEO Martin Shkreli.

Alas, no.

After activists, politicians and medical groups attacked him for raising the cost of Daraprim more than 5000%—from $13.50 a pill to $750 per dose—Shkreli agreed to lower the drug’s price tag.

But Arstechnica reports that he's reversed that decision—instead Turing will offer hospitals a 50% discount and make "other adjustments."

Turing will offer additional money-saving measures such as new, smaller bottles with only 30 tablets, helping to reduce the costs for hospitals to stock the medicine.

The company will also offer zero-cost starter samples and, for commercially insured patients, co-payments of no more than $10 a prescription.

"A drug’s list price is not the primary factor in determining patient affordability and access," said Turing rep Nancy Retzlaff, "A reduction in Daraprim’s list price would not translate into a benefit to patients."

Even at half-off, the drug will still cost $375 a pill.

Daraprim will be free for patients without insurance or who fall below 500% the federal poverty level, the company announced—a maneuver commonly employed to foist costs onto insurance companies and taxpayers.

In an e-mail to The New York Times, AIDS activist Tim Horn called the announcement "nothing more than lipstick on a pig."

A competitor, Imprimis Pharmaceuticals, a compound version of Daraprim with the same benefits for just 99 cents, though Retzlaff insists that has nothing to do with the decision to keep the price inflated.

Turing Pharmaceuticals posted losses of $14.6 million in its third quarter, ending in September. This month, Shkreli took controlling interest of another company, KaloBios, and named himself CEO.

h/t: Instinct

Latest News