Pharma CEO Martin Shkreli’s plans to hold patients hostage just went up in smoke. The world rejoices.
A pharmaceutical company called Imprimis Pharmaceuticals Inc announced on Thursday that they are offering an alternative to Daraprim — the drug whose 5,550 percent price gouge caused nationwide outrage — and intend to sell it for $1 a pill.
Martin Shkreli, also known as “Pharma Bro,” the CEO of Turing Pharmaceuticals who purchased the rights to the drug used in HIV and AIDS treatments and skyrocketed the price to $750 overnight, quickly became the poster child for big pharmaceutical greed. The previous price for Daraprim was $13 a pill before Shkreli’s much-maligned price hike.
As US Uncut reported last week, the news of Senator Bernie Sanders’ presidential campaign donating Shkreli’s $2,700 donation to medical research incited a furious reaction from Shkreli.
Imprimis generally develops compounded medications for prescription drugs that do not meet the needs of a patient, Yahoo News reported. They will now be offering a compounded formula of Turing’s drug in capsule form.
Beyond Daraprim, the company also announced that they plan to continue creating compounds of drugs that are sold far above their actual cost.
The company also offers massive discounts on their drugs for those in need, like Medicaid recipients, sometimes as low as $1 for an entire bottle.
The one drawback of what Imprimis is doing is that their formulation is not FDA approved. However, it can still be legally sold through a doctor’s prescription.
Even though, Pyrimethamine is generic, meaning anyone could make a competitor for Daraprim, it was just that nobody had, since it was a niche drug and not destined to be a big money maker.
If Imprimis wanted to get FDA approval it would reportedly take years and millions of dollars, which would make it more difficult for the company to keep their prices affordable.
US Uncut reached out to Shkreli for comment. His only response to us was “lol.”
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