Turing

Turing’s chief commercial officer says ‘No patient needing Daraprim will ever be denied access’

Turing’s chief commercial officer says ‘No patient needing Daraprim will ever

The pharmaceutical company that hiked the price of a drug used for the treatment of AIDS and cancer by 5,000% is cutting the price. It is going to charge hospitals by 50%. Yesterday, NY and Zug, Switzerland-based Turing Pharmaceuticals LLC announced a 50% cut in its prices for toxoplasmosis drug Daraprim.

In a statement, the company said, “After talking with doctors, patients, and patient advocacy groups and considering the ongoing patient assistance programs, Turing recognized that the place they could have the biggest impact on Daraprim cost – and ultimately cost savings to patients was in hospitals”.

Turing Pharmaceuticals reneges on its pledge to cut $750-per-pill price

Turing Pharmaceuticals reneges on its pledge to cut $750-per-pill price

Weeks after facing criticism from doctors, patients and other drugmakers for increasing the price of a life-saving medicine over five times, Turing Pharmaceuticals has reneged on its promise of cutting the $750-per-pill price.

The small biotech company has instead decided to cut what it charges hospitals for its parasitic infection treatment, Daraprim, by up to 50%. Most of the co-payments by patients will be capped at $10 or less per month, however, insurers are going to be stuck with the bulk of the $750 tab. This will drive up insurance costs and future treatment.

Turing Pharmaceuticals Fails to Keep Its Pledge to Cut Cost Of Daraprim

Turing Pharmaceuticals Fails to Keep Its Pledge to Cut Cost Of Daraprim

Turing Pharmaceuticals, a fully integrated biopharmaceutical company that focuses majorly on patients with unmet medical needs refuses to cut down the price of its lifesaving drug Daraprim.

It has come into notice that the company is reducing the price for hospitals by up to 50 percent for Daraprim, a drug that treats toxoplasmosis, a rare parasitic infection that mainly strikes pregnant women and HIV patients.

CEO Martin Shkreli on Tuesday announced that the company officials decided that kit was more important to cut the cost of the medicine to hospitals, according to The New York Times.

Daraprim is actually a 62-year-old pill and its patent has expired decades ago. Carlos del Rio, chairman of the HIV Medicine Association said changes made by Turing are just ‘window dressing’.

Costly Turing Pharmaceuticals drug faces competition from Imprimis

Costly Turing Pharmaceuticals drug faces competition from Imprimis

Last month, Turing Pharmaceuticals led to a nationwide outrage and government investigations after it hiked the price of Daraprim, a drug for treating AIDS and cancer, from $13.50 a capsule to $750. San Diego’s biomedical company Imprimis Pharmaceuticals has introduced a competitor to the medication for $1 a capsule this week.

Imprimis is looking forward to follow the same strategy to undercut the sale of other generic drugs sold at quite more than their manufacturing cost. Alike Daraprim, the medications will be used in niche markets that so far haven't faced much competition.

Donald Trump slams Martin Shkreli

Donald Trump slams Martin Shkreli

Martin Shkreli, founder and CEO of Turing Pharmaceuticals, has been slammed by businessman and Republican presidential candidate Donald Trump for hiking up price of a 62-year-old drug, Daraprim.

On Wednesday, in a press conference held in South Carolina, Trump campaigned for the whole day and also gave statements on different issues, together with the most recent controversies in the pharmaceutical industry.

He was asked about his opinion about Martin Shkreli. Trump said in response that he is like a 'spoiled brat' and that he thinks of him as 'hot stuff', especially during the beginning of the week when he was inclined towards controversies.




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