Pharmaceutical Businessman Hikes Price of Drug From $13.50 to $750 per Pill
Right off the bat: the healthcare industry in this country is messed up. But the pharmaceutical industry? Even more so. According to the New York Times, the CEO of Turing Pharmaceuticals, Martin Shkreli, bought the rights to Daraprim, a 62-year-old drug used to treat toxoplasmosis, which is a parasitic infection. The price of the drug then skyrocketed from $13.50 per pill to ~$750 per pill–a 5,500% increase.
When asked about the price hike, Shkreli stated that he doesn’t understand where the criticism is coming from. He compared the price to other similar prices for drugs that treat rare diseases, adding, “This isn’t the greedy drug company trying to gouge patients, it is us trying to stay in business.”
He also says the money is going back into research to better treat toxoplasmosis–though the demand for better treatment isn’t exactly all there. Dr. Wendy Armstrong, professor of infectious diseases at Emory University in Atlanta, explained, “I certainly don’t think this is one of those diseases where we have been clamoring for better therapies.”
Hmm. So just what the heck is going on here? You know, besides the whole ridiculous price hike thing?
(via Raw Story)
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